The Kingdom Bank Leverages Fireblocks to Enable Fiat Transfers and Enhance Global Financial Connectivity3 min read
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The Kingdom Bank, a global international crypto-friendly fintech bank based in the Commonwealth of Dominica, are thrilled to announce the integration of Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain.
At The Kingdom Bank, we provide a broad range of corporate and private banking services. This includes competitive foreign exchange (FX) rates, wealth management, and payment solutions in over 40 currencies.
We specialise in delivering cost-effective, faster international business solutions such as multi-currency bank accounts, empowering businesses and individuals to easily send and receive payments in crypto and fiat currencies.
To further expand our offerings and meet the growing demands of the digital economy we recognised the need for advanced solutions to support our increasing base of crypto-friendly customers.
Nearly two years ago, we began utilising Fireblocks, adopting their Wallets-as-a-Service (WaaS) technology to enhance our users’ banking experience by enabling them to securely and efficiently manage their digital assets.
This integration underscores the critical need for robust digital asset security that leverages multi-layer technology, combining the latest breakthroughs in multi-party computation (MPC) cryptography with hardware isolation to ensure the safekeeping of digital assets for both individual and corporate clients.
Today, we are pleased to announce that we are extending our relationship by integrating Fireblocks’ Network Link for Fiat Providers, which enables The Kingdom Bank to provide digital asset banking services on the Fireblocks Network, the industry’s largest digital asset network with over 2,000 institutional counterparties.
The latest integration allows The Kingdom Bank’s customers to make instant fiat transfers to network counterparties and external connections, on-and off-ramp fiat currencies to exchanges, and provides a unified settlement experience and operational workflow for both fiat and crypto transfers.
Moreover, customers can now access their fiat account details directly through Fireblocks’ platform without needing to log in separately to their The Kingdom Bank account, enhancing the ease of use and accessibility. And now, with Fireblocks, we are ready to provide business and individual account holders with unparalleled security and operational efficiency to quickly settle fiat-to-crypto exchanges and smoothly access crypto capital markets.
