Archax expands crypto custody with Fireblocks and its network

The integration enables Archax to extend the reach of its crypto OTC and exchange offerings and the number of crypto trading pairs supported.

Archax has expanded its custody service by integrating Fireblocks as well as its network, which enables Archax to extend the reach of its products and services suite, particularly its crypto OTC and exchange offerings, and the number of crypto trading pairs supported.

Fireblocks is a renowned enterprise-grade platform for moving, storing, and issuing digital assets, which has secured the transfer of over $6 trillion in digital assets to date.

The platform features a multi-layer security matrix including Multi-Party Computation (MPC) technology, Intel SGX, a signature Policy Engine, and a deposit address authentication network to deliver an impenetrable system.

Archax more empowered to deliver its core services

The integration allows Archax to effectively manage its day-to-day treasury operations and leverages Fireblocks’ enterprise-grade multi-layer security to further safeguard customer funds.

At the heart of the Archax digital asset ecosystem is its custody service, allowing customers to hold traditional financial markets assets, alongside unregulated cryptocurrencies and regulated tokenized assets.

This service powers and sits behind Archax’s other core services, including:

  • tokenisation engine, which tokenises money market funds and other Real World Assets (RWAs);
  • exchange, which offers trading in crypto pairs alongside regulated digital securities;
  • suite of structured products, which includes capital protected notes and ETPs/ETFs/ETNs;
  • OTC crypto trading desk.

Archax now leverages Fireblocks and Metaco for custody

Graham Rodford, CEO and co-founder of Archax, commented: “As a custodian that handles both regulated and unregulated digital assets, it is vital that we work with the best technology providers for our products and services. By leveraging Fireblocks, alongside our existing technology partner Metaco (now Ripple Custody) for custody, we are extending the reach of all of our digital asset services. Working with leading custody technology providers provides our customers with greater choice, which is a key part of the Archax strategy.”

Stephen Richardson, Managing Director, Financial Markets at Fireblocks, said: “Fireblocks’ powerful digital asset treasury management provides Archax with the operational flexibility to meet governance and risk requirements, as well as provides direct connectivity to the digital asset trading ecosystem via the Fireblocks Network. We look forward to further supporting Archax as it pioneers the future of blockchain-based markets.”

It was in 2022 that Archax partnered with METACO to deploy its digital asset custody and orchestration technology on IBM Cloud. The FCA-regulated digital asset exchange, brokerage, and custodian based in London fully integrated METACO’s bank-grade digital asset custody, issuance, and orchestration platform, Harmonize.

Harmonize’s IBM Cloud Hyper Protect Services allows Archax to scale to billions of wallets while maintaining control over their private keys for risk management. Custodians retain physical control of the root of trust of the assets and the policies that govern the management of the assets, through the IBM HSM Smartcards.

Harmonize, built in partnership with the largest Tier 1 custodian banks, allows clients to securely store, trade, issue and settle cryptocurrencies and digital securities. METACO was recently acquired by Ripple Labs.