Wang Long Chai
17 July 2024 17:34
HTX integrates Fireblocks Off Exchange to mitigate counterparty risk and improve digital asset security and user experience.
HTX, one of the world’s leading exchanges, has announced its integration with Fireblocks Off Exchange, a pioneering solution designed to mitigate counterparty risk for trading firms and asset managers on centralized exchanges, according to Fireblocks.com.
Strengthening digital asset security
HTX aims to leverage Fireblocks Off Exchange to enhance digital asset security and streamline global compliance operations, ultimately improving users’ virtual asset trading experience. This integration will allow HTX to provide a more secure trading environment and better user experience, which is in line with its goal of becoming the world’s best one-stop trading platform.
“HTX is committed to establishing itself as the world’s leading one-stop trading platform, earning the trust of millions of users around the world,” the company said.
Battle-tested technology and real-time payments
Fireblocks Off Exchange uses Multi-Party Computation (MPC) technology to help traders mitigate counterparty risk by securing funds in an MPC-based shared wallet. HTX sees this development as a significant milestone in risk mitigation for over-the-counter (OTC) trading in the cryptocurrency markets.
The collaboration between HTX and Fireblocks aims to contribute to a safer and more liquid cryptocurrency ecosystem, reducing trading risks while increasing trading freedom. Users of both platforms can now perform instant transfers, payments, and other operations through their HTX accounts, strengthening the platform’s global presence and providing diverse investment opportunities worldwide.
“Exchanges are increasingly looking to innovative technologies and institutional-grade security to address counterparty risk challenges and ensure customer funds are protected. Fireblocks Off Exchange provides HTX with the ability to monitor and verify customer collateral on-chain and enforce risk management without custody, increasing liquidity and maximizing capital efficiency to create a safer digital asset trading environment,” Fireblocks emphasized.
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