- The partnership between Zodia Markets and Fireblocks represents a strategic move to revolutionize cross-border payments using stablecoins.
- By integrating Zodia Markets’ multi-currency digital asset execution capabilities with Fireblocks Network, the collaboration aims to address longstanding challenges in cross-border transactions, such as slow speeds, limited availability, high costs, and lack of transparency.
To enhance cross-border payments, Zodia Markets, a cryptocurrency exchange and brokerage backed by Standard Chartered, and Fireblocks, a provider of crypto custody technology, have teamed up.
The UK-based Zodia Markets claimed in an announcement that by enabling value transfer via digital assets, the partnership will address banking difficulties and increase efficiency.
According to a news release from Zodia Markets co-founder Nick Philpott, “cross-border payments between many jurisdictions suffer from slow transaction speeds, limited availability during business hours, high costs and a lack of transparency.”
Philpott stated, “Stablecoins give corporate entities a competitive edge the internet provides to other industries today by enabling value transfer using the internet.”
Through the cooperation, Zodia Markets’ multi-currency digital asset execution capabilities will be integrated with Fireblocks Network, a digital asset transfer network that enables clients to send money swiftly.
Increased Use of Stablecoins
According to Fireblocks, the use of stablecoins is increasing. 30% of Fireblocks customers pay with stablecoins, according to prior reports from the company, and that percentage is expected to grow.
According to a press release, Richard Astle, VP Business Lead at Fireblocks Network, “we’ve witnessed a growth in adoption among our network to use stablecoins as a near-instant and cost-effective way to transfer value.”
“This collaboration with Zodia Markets not only marks the beginning of bringing FX on-chain, but it also makes it unique in its value proposition,” continues Astle. “The expansion to non-USD on/off ramps is also on the rise.”
Fireblocks Appoints New Executives
Fireblocks has added additional senior personnel to its team as it prepares for the impending cryptocurrency bull market. Michal Ferguson was named chief marketing officer by the corporation. Madan Gadde, a former employee of FIS, has been appointed as chief customer officer, and Michael Levine from Payoneer has joined as chief financial officer.
According to a press release from Fireblocks CEO Michael Shaulov, “the explosion of new innovations over the last six months has led to a ‘crypto renaissance’ that is spreading like wildfire across financial and non-financial sectors.”
“With Michal on board, our leadership team’s combined expertise propels us closer to our objective of assisting thousands of new companies and providing all of them with the resources they require to safely launch innovative onchain applications, goods, and services on a large scale,” Shaulov continued.
Empowering Digital Asset Adoption: Zodia Markets Champions Client-Centric Innovation
Zodia Markets, fueled by SC Ventures and OSL Group, stands at the forefront of digital asset brokerage and exchange platforms. Rooted in the mission to eliminate compromise in digital asset products, Zodia Markets emphasizes client-centricity, compliance, and efficiency. With a team guided by professionalism, focus, and exceptionalism, Zodia Markets liberates clients from complexity, offering streamlined access to a secure and compliant digital asset future.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
