Crypto Custody Firm Fireblocks Expands Compliance Team
Crypto custody company Fireblocks has hired former New York financial regulator Peter Marton to help develop blockchain-based compliance products. Marton, who previously served as the deputy superintendent of virtual currency at the New York State Department of Financial Services, will be the director of digital identity at Fireblocks. In addition, Chaitanya Reddy Konda, an expert cryptographer who worked on Nightfall, a blockchain developed by EY and Polygon, has joined Fireblocks as the senior technical product manager for digital identity and privacy.
Focus on Safety and Consumer Protection
Fireblocks aims to develop on-chain identity and programmable compliance solutions that will transform the digital and financial markets. Jason Allegrante, chief legal and compliance officer of Fireblocks, stated that Marton’s experience in developing regulatory frameworks will be invaluable in setting standards for safety, soundness, and consumer protection.
BlockFold Acquisition
Last month, Fireblocks announced its $10 million acquisition of BlockFold, a smart contract development and consulting firm. This acquisition enhances Fireblocks’ platform, allowing clients to have complete control over their digital assets throughout their lifecycle. The company focuses on tokenization, secure storage, and payment workflows.
Hot Take: Expanding Compliance Capabilities for Enhanced Security
Fireblocks’ hiring of former New York financial regulator Peter Marton and expert cryptographer Chaitanya Reddy Konda demonstrates the company’s commitment to strengthening compliance measures in the crypto industry. By developing blockchain-based compliance products and on-chain identity solutions, Fireblocks aims to transform the digital and financial markets while ensuring safety, soundness, and consumer protection. The recent acquisition of BlockFold further solidifies Fireblocks’ position as a leader in providing secure custody and control over digital assets. These strategic moves contribute to the overall security and trustworthiness of the crypto ecosystem.
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