FireBlocks collaborates with BCB Group to provide crypto-to-fiat off-ramp for more than 30 currencies.
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FireBlocks, a digital asset infrastructure company, announced today that it has rolled out instant currency transfers to more than 30 currencies. This expansion means FireBlocks now supports additional currencies such as the Euro (UR), Swiss Franc (CHF), British Pound (GBP), Singapore Dollar (SGD) and Japanese Yen (JPY), along with the US Dollar (USD).
This new feature is possible in collaboration with payment service provider BCB Group and instant settlement network BLINC. Michael Shaulov, co-founder and CEO of Fireblocks, said the advent of Web3 will make every business eventually a digital assets business.
“This cooperation with BCB – the leading payment service provider for the digital asset economy – significantly expands the on and off fiat for businesses using FireBlocks, thus eliminating conflicts and allowing organizations to participate in Web3 on a global scale and build products and services for millions of consumers,” Shaulov added.
With the rapid growth of the crypto industry, fiat currency gateways are key to the liquidity of this market. In a recent report, crypto service provider Crypto.com It highlights that 580 million people will own crypto globally by 2023, a 34% annual growth rate.
Although centralized exchanges are typically used for these transactions, demand for direct crypto-to-fiat pathways is growing, reflecting the increasing integration of the decentralized finance (DeFi) and traditional finance (TradFi) sectors.
BCB Group Founder and CEO Oliver Tonkin bridged the gap between DeFi and TradFi, emphasizing growth and innovation in digital business and the partnership's role in the broader financial landscape.
“This integration will not only help bring greater efficiency to the crypto capital markets, but will also spur innovation in any business that touches digital commerce,” Tonkin concludes.
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