Hodlnaut Selects Fireblocks to Secure Assets with Next-Generation MPC Security
The blockchain-based crypto lending company chooses Fireblocks for its multi-layer security technology
Singapore, Apr. 14, 2021 – Hodlnaut today announced a partnership with Fireblocks, a leading enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets.
Fireblocks uses the next-generation private key security (MPC-CMP) and hardware isolation technology (SGX) to create multi-layer security, which eliminates a single point of failure and insulates digital assets from cyber-attacks, internal collusion, and human error.
Hodlnaut currently has $250 million of assets under management with a 20% month-on-month growth rate, thus the need for an agile custody assets management platform that will allow sending and receiving transactions at scale while saving on fees.
By integrating Fireblocks, Hodlnaut users are able to access their digital assets securely 24/7 without any issues. In addition, Fireblocks’ protocol-agnostic MPC-CMP enables integration with any blockchain and easily adds support for new tokens, which is something that Hodlnaut has planned in its roadmap this year.
“The technology behind Fireblocks’ wallet solution promises that assets on our platform are protected with the highest level of security. Fireblocks’ solution caters to our business needs by allowing the ability for quick institutional settlements. As Fireblocks continues to expand its business operations globally and continue to offer additional features in the future, we believe this opens many new doors for Hodlnaut to support exciting new features in the future as well,” said Juntao Zhu, CEO & Co-founder of Hodlnaut.
Fireblocks’s CEO, Michael Shaulov conferred in regard to prioritizing the safeguarding of users’ funds in a sustainable manner. “We are excited to add support for Hodlnaut by delivering the infrastructure that’s needed to support their growing user base, said Michael Shaulov, CEO of Fireblocks. “Adding Hodlnaut to our portfolio is another step closer to ensuring all digital assets in the ecosystem are protected.”
Hodlnaut is a platform that provides financial services for individual investors where they earn interest on their cryptocurrencies by lending it to institutions. Founded in April 2019 by self-proclaimed bitcoin maximalists Juntao Zhu and Simon Lee, the company has a mission to help hodlers get the most out of their crypto assets. Hodlnaut offers up to 10.5% APY to individual investors with a Hodlnaut Interest Account that supports BTC, WBTC, ETH, DAI, USDC, and USDT. For more information, please visit www.hodlnaut.com.
Fireblocks is a leading enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables banks, fintechs, exchanges, liquidity providers, OTCs, and hedge funds to securely manage digital assets across a wide range of products and services. The technology consists of the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 250 financial institutions and has secured over $400 billion in digital assets. Fireblocks has a unique insurance policy that covers assets in storage & transit and offers 24/7 global support. For more information, please visit www.fireblocks.com.