Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Fireblocks' tech will help Binance.US scale up staking services for its relatively long list of staked crypto tokens.
Earlier this year, the SEC told Binance.US to be more forthcoming in answering requests for information, specifically mentioning custody of customers’ assets.Binance.US, the American arm of the world's largest cryptocurrency exchange by trading volume, is working with crypto custody firm Fireblocks to reassure users and regulators that customer assets on the exchange are handled in a safe and compliant manner while also bolstering crypto-token staking services.
As regulators put more focus on security and compliance, it’s crucial for platforms to use technology that can check all boxes without sacrificing user experience, Fireblocks CEO Michael Shaulov said. “By integrating our wallet infrastructure, Binance.US is ensuring its custody operations are rock solid and fully aligned with what regulators are asking for,” Shaulov told CoinDesk in an email. “With Fireblocks, they can scale up staking operations securely and efficiently, giving users a smoother experience while staking their tokens and earning rewards.”in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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