UAE regulated GCEX partners with Fireblocks

UAE regulated GCEX partners with Fireblocks

GCEX a provider of digital assets and foreign exchange solutions regulated in Dubai UAE, has integrated with FireBlocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain to enable its institutional clients to access Fireblocks’ digital asset platform and custody solutions.

This latest development enables GCEX’s institutional clients transacting through its Danish and Dubai entities to utilize Fireblocks’ robust Policy Engine and compliance toolkit, ensuring enhanced security and adherence to regulations. 

By accessing the Fireblocks Network, GCEX’s clients can connect and trade with over 2,000 liquidity partners, trading venues and counterparties, with the network facilitating instant settlement, rebalancing and payments.

Lars Holst, CEO at GCEX said, “By integrating Fireblocks’ world-leading technology, GCEX is reinforcing our commitment to providing institutional clients with a streamlined trading experience and the most secure, efficient and transparent trading environment in the digital asset space. As institutional adoption of digital securities accelerates and we continue to scale, Fireblocks’ multi-layer security protocols, regulatory toolkit and streamlined processes will support GCEX’s operations, underpinning our focus on ease of trading and asset protection.”

The announcements comes a week after GCEX launched its open API, created to give institutional and professional clients real-time access to their balances, trades, and positions. The open API will enable clients to integrate with the GCEX back office, which the company says will help make portfolio management and regulatory reporting more efficient as a result of automating manual processes.

Clients are also said to be able to integrate their data for tailored insights and compliance reporting. The launch comes as part of GCEX’s mission to enhance innovation and technology in the prime brokerage space.

At the time Lars Holst, CEO of GCEX, said, “The GCEX open API offers greater transparency, empowering clients to make more informed trading and portfolio decisions and respond on a timely basis to regulatory requirements. By providing instant access to key data through our open API, we are making it easier for our clients to optimize their trading operations and reporting capabilities.”

Africa’s stablecoin on and off ramp platform Yellow Card to utilize Fireblocks for cross border transactions

Africa’s stablecoin on and off ramp platform Yellow Card to utilize Fireblocks for cross border transactions

Yellow Card, Africa’s stablecoin on/off ramp, has integrated with digital asset infrastructure provider Fireblocks to improve cross-border transactions for both businesses and individuals.

By utilizing Fireblocks, Yellow Card seeks to remove obstacles for global corporate treasury, in accessing African markets, by offering secure and effective on-chain solutions. This includes leveraging Fireblocks’ Wallets-as-a-Service (WaaS) which enables Yellow Card to create, manage, and secure up to 14 million multi-party computation (MPC) wallets at scale and safeguard customer assets.

“We’re excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions,” said Chris Maurice, CEO and co-founder of Yellow Card. “Together, we enhance how businesses around the world manage their treasury, make payments, and drive innovation across Africa.”

Fireblocks is an easy-to-use platform to create new blockchain-based products and manage day-to-day digital asset operations, having secured the transfer of over $6 trillion in digital assets. Both entities seek to tackle the complex challenges faced by multinational corporate treasuries such as regulatory compliance, currency volatility, and inefficient legacy banking systems.

“Much like the rest of the world, Africa has seen a transformative shift from traditional payment methods to alternative payments, driven by new technologies, with $100 billion worth of remittances flowing into the continent. However, cross-border payments are still encumbered by high costs, with low-value cross-border payments incurring steep fees,” said Ran Goldi, SVP Payments and Network at Fireblocks. “We are delighted to be working with Yellow Card to provide our direct custody wallets-as-a-service (WaaS), allowing them to secure their customers’ digital assets at scale.”

Yellow Card, with a presence in 20 African countries, is at the forefront of assisting organizations in handling foreign exchange (FX) risk through stablecoin transactions. By utilizing USDT, USDC, and PYUSD, the company helps businesses manage their treasury and related transactions within and beyond the continent.

This marks a pivotal moment for both companies as they pave the way for more streamlined and secure financial operations across Africa. With a shared vision of innovation and excellence, Yellow Card and Fireblocks have a common goal of transforming cross-border transactions by introducing new benefits to businesses and the economy through innovation and excellence.