Following an effort to enhance corporate cross-border payments, Fireblocks, a platform that provides infrastructure for transferring, storing, and issuing digital assets, has teamed up with Zodia Markets, an institutional cryptocurrency exchange based in the United Kingdom.
According to the press release, the partnership will enable businesses to move money more quickly by using stablecoins as opposed to conventional fiat currency methods. The integration will make use of Fireblocks’ peer-to-peer stablecoin transaction technology and Zodia’s digital asset in place of traditional foreign exchange execution, with an emphasis on emerging countries.
Richard Astle, vice president and business lead at Fireblocks, said, “We’ve seen a growth in adoption among our network to use stablecoins as a near-instant and cost-effective way to transfer value.”
He continued, “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 only unique in its value proposition, but also marks the beginning of bringing FX on-chain.”
Zodia Markets provides digital asset trading for enterprises and large institutions and is supported by Standard Chartered’s venture capital section.
Following the recent hiring of a new chief financial officer and chief customer officer, Fireblocks has appointed Michal Ferguson as its new chief marketing officer.