“At a time when the world feels like it is fragmenting, moving cross-border payments to the internet may help bring it back together.”
Zodia Markets and Fireblocks have partnered to address correspondent banking challenges and improve efficiency by enabling value transfer utilising the power of digital assets.
The collaboration aims to deliver a pioneering solution that leverages Zodia Markets’ multi-currency digital asset execution and the Fireblocks Network, a digital asset transfer platform for rapid digital asset transactions and dynamic payment workflows.
Zodia is a UK-headquartered institutional crypto trading business backed by Standard Chartered. Fireblocks is an enterprise platform to manage digital asset operations and build innovative businesses on blockchain. The integration will streamline Zodia Markets’ electronic execution and settlement for clients, providing a more comprehensive cross-border value transfer offering.
“Moving cross-border payments to the internet may help bring world back together”
Nick Philpott Co-founder of Zodia Markets, said: “Cross-border payments between many jurisdictions suffer from slow transaction speeds, limited availability during business hours, high costs, and a lack of transparency. Stablecoins enable value transfer using the internet, granting corporate entities a competitive edge the internet provides to other industries today.
“Ultimately, this collaboration places control of cross-border payments squarely in the hands of corporate treasurers and CFOs. At a time when the world feels like it is fragmenting, moving cross-border payments to the internet may help bring it back together. We are proud to work with Fireblocks to drive this forward.”
Richard Astle, VP Business Lead Fireblocks Network, commented: “For some time now, we’ve witnessed a growth in adoption amongst our Network to use stablecoins as a near-instant and cost-effective way to transfer value. As a global enterprise, the expansion to non-USD on/off ramps is also on the rise which makes this collaboration with Zodia Markets not just unique in its value proposition, but also marks the beginning of bringing FX on-chain.”
