DIFX Cross Asset Digital Exchange grows to 550 million USD in assets under Management with FireBlocks.∅
Cayman Islands headquartered cross-asset digital exchange platform, Digital Financial Exchange (DIFX,) announced on the 17th of May, that it had grown the value of its Assets Under Management to $550 million. This marks a significant rise from $5 million since the firm integrated with custody infrastructure provider, Fireblocks.
“We grew from 5 million USD assets in custody in 2020 to 550 million assets in custody today after rolling out Fireblocks in Spring of 2021. This is an increase of 10,900 percent. In addition, we are saving around 100,000 USD per year in operational expenses using Fireblock’s policy engine and authorization workflows and 40,000 USD yearly in ERC-20 gas fees.” – Jeetu Kataria CEO of DIFX
Following three months of research, the exchange platform provider opted to use Fireblocks’ service on account of the fact that the custody firm offered secure, direct custody infrastructure, as well as tools to increase trading efficiency, automated operational processes, and policy workflows. The DIFX spot exchange and the MT5 platform also leverage Fireblocks’ direct custody infrastructure to secure, both, traditional and digital assets.
“I knew since our launch in 2020 that choosing the right crypto custody infrastructure partner was essential to our success and that achieving a strong return on investment was critical for our new trading platform. With Fireblocks, our team can focus on serving clients instead of manually managing digital assets.” – Kataria
The Fireblocks platform is already used by thousands of crypto-focused businesses to gain access to Web3 and Defi applications. They also leverage the company’s extensive suite of tools for the securing of funds in custody, managing the operations of their digital assets, tokenizing assets, and building Web3-compatible services.
“We are always pleased to see clients such as DIFX benefit and grow from the products and services we offer. At the end of the day, we strive to provide clients like DIFX with the flexibility to adapt and scale their businesses and enable them to easily and securely bring digital asset products to market. We look forward to working alongside DIFX as they continue to adapt and innovate in this fast-paced industry” – Michael Shaulov, CEO and Co-Founder, of Fireblocks