Crypto unicorn Fireblocks opens new office in Switzerland

    Story 478516666

    TL;DR Breakdown

    • A new announcement revealed that Fireblocks would be opening a new office in Switzerland.
    • It comes as a move of expansion policy of the organization that was witnessed across Europe. 
    • Richard Astle, along with Ana Santillan, will be responsible for leading the office.

    Fireblocks, the industry leader for digital asset custody, settlement, and transfers has officially declared that it is opening an office branch in Switzerland. Richard Astle and Ana Santillan are going to lead the new office. This is part of the crypto unicorn’s actions in Europe, leading the company to double its territory over the last six months to over 200.

    Richard Asle is the founding member of the Bitcoin Suisse Institutional Services. On the other hand, Ana Santillan is the former vice president of Fixed Income Sales and Trading at Morgan Stanley.

    The expansion of Fireblocks 

    Along with Switzerland, Fireblocks had also started working in London and Germany, which, in a Series D funding round, raised around $310 million in earlier September 2021. This confirms that there are plans for further expansion in Europe.

    The company’s CEO, Michael Shaulov, said that several clients of the crypto unicorn were from Switzerland. Along with that, Swisscom Ventures is an early investor in the company.

    According to the CEO of the organization, Switzerland’s expansion will prove to be a significant move for Fireblocks. He states that Switzerland has a lot of banks with great coordination and policies that are regulated by an authority that thinks clearly and ahead of its time.

    It is not surprising to know that Swiss banks have always been more inclined and advanced to crypto than their counterparts and have a ton of firms working in the field of crypto custody, security, and trading.

    A significant move

    Shaulov said that, unlike other Swiss crypto custody firms that use hardware security modules and legacy technology, the system of Fireblocks is based on multi-party computation(MPC), which is unique and more advanced.

    The extension of Fireblocks will act as a door to collaboration with other crypto custody firms and better crypto adoption in the country. According to the CEO of Fireblocks, cryptocurrencies are no longer related to cold storage anymore. People are now looking to explore the blockchain world and DeFi applications.