Coins.ph, the Philippines’ leader in the crypto industry, has recently partnered with Fireblocks, the award-winning provider of digital assets and crypto technology. The integration of Fireblocks into Coins.ph will allow for improved service quality for over 16 million users who are now using the platform.
Considered a highly reliable partner, Fireblocks is also touted to provide unparalleled security for users while streamlining crypto transactions on the Coins.ph platform.
“We’re happy to announce that we have partnered with the award-winning provider of digital asset and crypto technology, Fireblocks,” said Wei Zhou, CEO of Coins.ph. “This integration is an important step for the development of our ecosystem as we will be able to scale our platform much faster without having to manage intensive crypto operations. Integrating Fireblocks’ custody management into our platform will enable us to maximize our users’ security in crypto operations and storage. It will also allow us to rapidly access new opportunities in the market.”
With the integration, Fireblocks will combine their latest algorithm, “MPC-CMP“, with hardware isolation to create a multi-layer of security. This will aid in eliminating single points of compromise while helping insulate digital assets from cyber-attacks, operational risks, and even human error.
Fireblocks’ MPC-CMP solution was launched in 2020. It was designed to improve upon industry protocol by delivering both enhanced security and faster transaction (up to 8x of signing speed), as only one round of transaction signing is required.
Driving trade volume without sacrificing security
“When it comes to working alongside our crypto exchange partners, our goal is to help drive trading volume without sacrificing security or operational efficiency,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “Coins.ph is a crypto industry leader in the Philippines that has plans to expand on its Web3 offerings. We are thrilled to be able to support their growth with our battle-tested security platform.”
By leveraging Fireblock’s latest MPC-based solutions, Coins.ph may be expected to improve the security, efficiency, and flexibility of its transactions and exchanges of digital assets on the Coins.ph platform. As the company scales down, it can also be expected to lower its operational costs.
MPC-CMP is blockchain agnostic, which would allow Coins.ph to provide needed support for blockchains like Ronin, Solana, Avalanche, and Polygon while keeping up with the dynamic and fast-paced industry.
Apart from hotkey signing mechanisms, MPC-CMP also supports transaction signing from cold wallets with at least one key share stored offline in an air-gapped device, further expanding the configuration possibilities of MPC-based wallets and allowing another layer of security.
About Coins.ph
Launched in 2014, Coins.ph is currently the most established crypto brand in the Philippines. Through its easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central bank.
For more information about Coins.ph, visit https://coins.ph.