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TAIPEI and SINGAPORE, May 16, 2024 /PRNewswire/ -- XREX, a leading blockchain-enabled financial institution, has announced that it is utilizing Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations.
Blockchain-enabled financial institution XREX integrates Fireblocks' wallet solution to enhance digital asset custodial services.
Known for providing compliant and secure cross-border solutions and exchange services, XREX is a trusted name in digital asset solutions in Taiwan, India, and many emerging economies.
"With our strong cybersecurity background, XREX is committed to providing corporate and retail users with the most secure digital asset solutions. By leveraging Fireblocks' robust wallet infrastructure, which offers institutional-grade digital assets custody, we will further strengthen our platform's security," said Wayne Huang, XREX co-founder and Group CEO.
With customizable solutions and experts to support migration and the setting up of custodial services, Fireblocks is well-positioned as the leading choice for financial institutions and exchanges alike.
Fireblocks is the first company in the world to achieve a Cryptocurrency Security Standard (CCSS) Qualified Service Provider Level 3 certification, a first-of-its-kind certification that was built as a security standard for crypto wallets and custody by the Cryptocurrency Certification Consortium (C4). The CCSS is designed to augment standard information security practices and complement existing standards such as SOC1 Type I, SOC2 Type II, ISO 27001, ISO 27017, and ISO 27018 – all of which have been awarded to Fireblocks.
"We are delighted to be working with XREX to provide our secure enterprise-grade infrastructure so users can move and store their digital assets with confidence. By leveraging Fireblocks, XREX underscores its commitment to excellence, innovation, and security in the digital asset space and together, we can elevate security standards and propel the industry forward," said Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks.
About XREX
XREX is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. We provide enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.
Founded in 2018 and operating globally under multiple licenses, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps.
Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education.
XREX Singapore has obtained the Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS).
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.