Fireblocks and First today announced a secure wallet and infrastructure for financial institutions that can easily connect to the Diem network to facilitate transactions and enable their customers to use Diem as a payment method to use within existing customer experiences.
As the Diem Association prepares for launch , it is expected that many financial service providers such as banks, exchanges, PSPs, eWallets and others plan to support Diem within their existing offerings. Any institute or fintech that wants to add Diem support would have to build the appropriate technology for the new payment system and qualify as a Virtual Asset Service Provider (VASP).
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“Diem, through its digital currencies, is set to achieve wider adoption of cryptocurrency and will provide the highest levels of security for real-time payments and ensuring the safety of its users’ funds and financial data,” said Michael Shaulov , CEO of Fireblocks . “To accelerate the adoption of Diem payments, Fireblocks has partnered with First to provide licensed vendors with an easy-to-use platform for introducing services that support Diem.”
First, founded in 2017, developed the first global digital payment platform as a service. It enables large merchants, PSPs and acquirers to accept and process Diem and other stablecoin payments. The offering is a turnkey solution that covers all aspects of payment transactions, including transaction and treasury management as well as compliance.
With First’s deep expertise in payments, liquidity and blockchain, as well as the MPC-based wallet and Fireblocks network infrastructure, they eliminate the complexity surrounding the Diem blockchain and VASP connectivity, allowing customers to use the Diem coin currencies can work in the mainnet and are ready on the first day.
“We believe in revolutionizing payments, and that starts with Diem,” said Ran Goldi, CEO of First . “As custodians, wallets, exchanges, PSPs and other VASPs prepare for the Diem network, we are excited to join Fireblocks to work together to deliver everything a VASP needs from risk to on / off chain communication to liquidation. ”
