Fireblocks unites with First for financial institutions’ wallet

Fireblocks has linked with First to launch its secure wallet and infrastructure for financial institutions to efficiently connect to the Diem network to facilitate transactions.

It comes as the Diem Association is preparing to go live, with it expected that many financial service providers such as banks, exchanges, PSPs, eWallets, and others, are planning to support Diem within their existing offering. 

“Diem, through its digital currencies, is set to empower a wider adoption of cryptocurrency and will require the highest levels of security for real-time payments and ensure the safety of funds and financial data of its users,” said Michael Shaulov, CEO of Fireblocks. “To accelerate the adoption of Diem payments, Fireblocks has partnered with First, to provide an easy to use platform for licensed providers to launch services supporting Diem.”

Having been formed in 2017, the firm seeks to enable large merchants, PSPs, and acquirers to accept and process Diem and other stablecoin payments. The offering is a turnkey solution that covers all payment aspects, including transaction and treasury management and compliance.

“We believe in revolutionising payments, and it starts with Diem,” added Ran Goldi, CEO of First. “As custodians, wallets, exchanges, PSPs, and other VASPs prepare for the Diem network, we’re excited to be working with Fireblocks to deliver everything a VASP needs, from risk to on/off-chain communication, and liquidation.”