Zodia Markets and Fireblocks Unite to Transform Correspondent Banking

Zodia Markets and Fireblocks Unite to Transform Correspondent Banking

Time Stamp: March 14, 2024 6:26 AM
Source Node: 2515113

Zodia Markets, a UK-based institutional crypto trading
entity backed by Standard Chartered, has joined forces with Fireblocks, an
enterprise platform specializing in digital asset operations and
blockchain-based innovation. The strategic collaboration, announced today (Thursday), aims
to tackle existing challenges in the correspondent banking landscape while
enhancing operational efficiency through the utilization of digital assets.

Recognizing the pressing need for innovation in the field,
Zodia Markets and Fireblocks are set to unveil a pioneering solution. This
initiative capitalizes on Zodia Markets’ multi-currency digital asset execution
capabilities and integrates seamlessly with Fireblocks Network, an
enterprise-grade platform designed for swift digital asset transactions and
dynamic payment workflows. By harnessing the power of digital assets, clients
will now be able to transfer funds with unprecedented speed, surpassing the
traditional methods reliant on fiat currencies.

Richard Astle, VP Business Lead Fireblocks Network, Source: LinkedIn

Nick Philpott, Co-Founder of Zodia Markets, Source: LinkedIn

“Cross-border payments between many jurisdictions suffer
from slow transaction speeds, limited availability during business hours, high
costs and a lack of transparency,” shared Nick Philpott, the Co-Founder of Zodia
Markets. “Stablecoins enable value transfer using the internet, granting
corporate entities a competitive edge the internet provides to other industries
today.”

Efficient Cross-Border Value Transfers

The integration between Zodia Markets and Fireblocks aims to
streamline electronic execution and settlement processes for clients, thereby
offering a more comprehensive solution for cross-border value transfers. By
leveraging Fireblocks’ cutting-edge technology alongside Zodia Markets’
expertise in digital asset execution, the collaboration is poised to develop
the correspondent banking landscape, paving the way for faster and more
efficient value transfers across borders.

Richard Astle, the VP Business Lead Fireblocks Network,
added: “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.”

Zodia Markets, a UK-based institutional crypto trading
entity backed by Standard Chartered, has joined forces with Fireblocks, an
enterprise platform specializing in digital asset operations and
blockchain-based innovation. The strategic collaboration, announced today (Thursday), aims
to tackle existing challenges in the correspondent banking landscape while
enhancing operational efficiency through the utilization of digital assets.

Recognizing the pressing need for innovation in the field,
Zodia Markets and Fireblocks are set to unveil a pioneering solution. This
initiative capitalizes on Zodia Markets’ multi-currency digital asset execution
capabilities and integrates seamlessly with Fireblocks Network, an
enterprise-grade platform designed for swift digital asset transactions and
dynamic payment workflows. By harnessing the power of digital assets, clients
will now be able to transfer funds with unprecedented speed, surpassing the
traditional methods reliant on fiat currencies.

Richard Astle, VP Business Lead Fireblocks Network, Source: LinkedIn

Nick Philpott, Co-Founder of Zodia Markets, Source: LinkedIn

“Cross-border payments between many jurisdictions suffer
from slow transaction speeds, limited availability during business hours, high
costs and a lack of transparency,” shared Nick Philpott, the Co-Founder of Zodia
Markets. “Stablecoins enable value transfer using the internet, granting
corporate entities a competitive edge the internet provides to other industries
today.”

Efficient Cross-Border Value Transfers

The integration between Zodia Markets and Fireblocks aims to
streamline electronic execution and settlement processes for clients, thereby
offering a more comprehensive solution for cross-border value transfers. By
leveraging Fireblocks’ cutting-edge technology alongside Zodia Markets’
expertise in digital asset execution, the collaboration is poised to develop
the correspondent banking landscape, paving the way for faster and more
efficient value transfers across borders.

Richard Astle, the VP Business Lead Fireblocks Network,
added: “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.”

Time Stamp:

More from Finance Magnates