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Press Release: QCP Leverages Fireblocks to Revolutionize Digital Asset Collateral Management for Institutional Clients

Press Release: QCP Leverages Fireblocks to Revolutionize Digital Asset Collateral Management for Institutional Clients

QCP CapitalQCP Capital2024/08/19 15:54
By:Elisha

New tri-party solution reduces counterparty risk, enhances security, and empowers institutional investors to retain control over their collateral.

Singapore, 19 August 2024 – QCP, a leading digital asset trading firm, today announced that it is leveraging Fireblocks, an enterprise platform for digital asset operations. This implementation is set to redefine digital asset collateral management and addresses the evolving needs of the market.

By leveraging Fireblocks’ battle-tested technology, QCP is committed to enhancing security, efficiency, and transparency in digital asset management, providing exceptional protection for clients’ assets.

Key Benefits:
  • Self-Administered Control: Institutions retain control over their collateral, minimizing reliance on third-party custodians.
  • Enhanced Cost Efficiency: The streamlined tri-party model reduces fees and facilitates faster transactions.
  • Reduced Counterparty Risk: Tri-party control allows access to QCP’s offerings with significantly lower counterparty risk, promoting safer trading and asset management.
  • Unparalleled Security: Fireblocks’ industry-leading security infrastructure safeguards digital assets throughout the process.

Leading institutions, including 5 North and Artichoke Capital, will be the first to deploy this tri-party system. These early adopters will be able to offer their clients access to digital assets with a significant increase in security, control and efficiency.

“By integrating Fireblocks’ solution, we have created a robust framework that enhances security and efficiency. This empowers QCP to offer advanced strategies, benefiting our clients and strengthening the overall ecosystem,” said Darius Sit, Founder and Chief Investment Officer at QCP.

As a pioneer of multi-party computation (MPC) technology, Fireblocks’ enterprise-grade digital asset infrastructure is instrumental in safeguarding assets by combining the latest breakthroughs in MPC cryptography with hardware isolation.

Blockchain technology stands to bring numerous benefits to collateral management, including providing greater liquidity for large volume trading, as well as mitigating settlement and counterparty risk,” said Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks. “By leveraging Fireblocks’ multi-layer security technology, QCP’s institutional clients can trade with confidence, safe in the knowledge that their digital assets are secured at all times.”

“At 5 North, we are committed to setting the highest industry standards in digital asset trading. The tri-party solution is something we first ideated a few months back while working with QCP and Fireblocks to ensure market participants feel secure and prevent another FTX event,” said Yiannis Varelas, Chief Investment Officer at 5 North. “This solution brings our industry in line with traditional finance standards, offering the added benefits of transparency, lower costs, and minimal counterparty risk.”

“The digital asset space has long promised improved transparency and risk management for financial transactions. We’re excited to be one of the first asset managers to work with QCP and Fireblocks to utilize this cutting-edge, institutional-grade collateral management solution for safer asset management,” said Shawn Lim, Founder Partner at Artichoke Capital

About QCP:

Established in 2017, QCP is a pioneering digital asset trading firm in Singapore, partnering with the next generation of institutional investors to unlock opportunities in digital assets. As a global market maker in digital asset derivatives, QCP leverages deep expertise and a vast network of liquidity providers to shape the future of digital asset markets through greater access and efficiency. We offer tailored derivatives, spot trading, and structured solutions to institutional, professional, and accredited investors. Headquartered in Singapore, QCP is supported by a strong team of professionals in trading, business development, operations, risk, and compliance.

QCP’s insights cover weekly trading updates, monthly and quarterly views, and can be accessed on our official social platforms such as Telegram , Twitter , LinkedIn and more.

More information can be found at www.qcpgroup.com . 

About 5 North:

5 North is a technology volatility fund with the vision of bringing liquidity to the digital asset markets by leveraging blockchain technology. Based in NYC, the firm is run by engineers and technology investors who develop trading strategies to extract alpha from market inefficiencies, with a particular emphasis on the options market.

About Artichoke Capital:

Artichoke Capital is an investment firm focused on the web3 and digital assets sector, anchored by leading Asia-based institutional investors and families. The team at Artichoke Capital has roots in the digital asset industry going back to 2014 and continues to partner with founders from the earliest stages of company formation. More information can be found at https://www.artichoke.capital . 

Media Contact:
  • Elisha Thiara
  • [email protected]
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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