Fintech PR
Fireblocks Expands Support for Banking & Financial Institutions with New HSM, Public & Private Cloud Capabilities
A flexible range of deployment models allows banks to configure the Fireblocks platform to their existing IT infrastructure and security policies, shortening time-to-production for digital asset initiatives
NEW YORK, June 27, 2023 /PRNewswire/ — Today, Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, expands its highly secure MPC-CMP wallet and key management technology to include support for HSMs and public and private cloud, including Thales, Securosys, AWS, GCP, and Alibaba Cloud. These flexible deployment models allow banks and financial institutions to leverage Fireblocks’ industry-leading security and technology stack to quickly bring their digital asset initiatives into production while meeting their risk, compliance, and regulatory requirements.
Fireblocks is trusted by some of the most recognized banks and financial institutions in the world to bring their digital asset strategies to production, including BNY Mellon, BNP Paribas, ANZ Bank, NAB, ABN AMRO, BTG Pactual, Tel Aviv Stock Exchange, and SIX Digital Exchange. These institutions have leveraged Fireblocks to build new digital asset custody, trading, clearing and settlement services, tokenization of financial products such as tokenized fiat, central bank digital currencies (CBDC), carbon credits, and more.
“With Fireblocks, we were able to take our digital treasury bond initiative — Project Eden — from ideation to go-live in five months,” said Orly Grinfeld, EVP, Head of Clearing at Tel Aviv Stock Exchange. “We were impressed with their ability to work with us and meet our extensive compliance and security requirements. Their world-class security operations and modular infrastructure allowed us to deploy wallets to our primary dealers, which included international banks like Goldman Sachs, Deutsche Bank, and JP Morgan. Not only were we able to ensure that the entire workflow operations were secure, but that all the vendors were streamlined and deployed in order to bring Eden live quickly.”
To ensure that financial institutions — including banks, asset managers, financial market infrastructure, and central banks — can easily deploy the Fireblocks platform in their existing IT infrastructure with their security policies, Fireblocks’ expanded range of support will include:
- HSM support with an open interface to leverage leading providers such as Thales, Securosys, and other compatible HSMs
- Expanded support for cloud-based secure enclaves, including AWS Nitro and GCP, and Alibaba Cloud SGX, in addition to Fireblocks’ existing Azure SGX support
- Enable customers to host all MPC key shares across multiple servers in their data centers and cloud
- New cloud data centers across the EU, Switzerland, and Hong Kong along with Fireblocks’ current cloud data centers in the US
- Dedicated single-tenant cloud environment
“As the financial ecosystem evolves, we are focused on enhancing our core capabilities by exploring digital technologies and processes, including blockchain,” said Sarthak Pattanaik, CIO, Digital Assets, Treasury Services, Clearance and Collateral Management at BNY Mellon. “We look forward to our continued collaboration with Fireblocks and leveraging their best-in-class services that support our ongoing efforts to address the needs of our institutional clients.”
“From the very beginning, the Fireblocks platform was created and designed to be business-first. We understand the risk requirements in the bank at an architectural level and we have strategically developed components to make sure that our customers can get from proof-of-concept to production in the shortest timeframe possible,” said Michael Shaulov, Co-founder and CEO of Fireblocks. “In the last three years, Fireblocks has been working with some of the most well-known banks and financial institutions at the cutting edge of the digital asset and crypto industry. To date, we’ve successfully brought 50 banks into the digital asset space, so we’re excited to be able to further our commitment to this segment by providing the right infrastructure support for any bank or financial institution to bring their digital asset offering to market.”
Banks and financial institutions find success in bringing their digital asset products to production by leveraging key components of the Fireblocks platform. Foundational to the ecosystem is the Fireblocks Network, which connects the largest consortium of regulated financial institutions that have implemented digital assets on the blockchain. The connectivity to the Fireblocks Network allows companies to execute their business strategies almost immediately by putting them in touch with exchanges, market makers, and other distribution partners such as private banks or fintech platforms. Fireblocks APIs also enable direct integration with the world’s leading core banking systems, including Temenos, Avaloq, and FIS, further expanding the ecosystem’s reach.
In addition, the platform’s tokenization capabilities support the end-to-end lifecycle management for tokenized assets, including smart contract management, minting and burning, distribution, and custody across public, private, and permissioned blockchains. This provides banks with full control over their digital assets as they engage with their counterparties. Lastly, Fireblocks’ powerful Policy Engine governs workflows within the Fireblocks console, giving owners full control to secure actions against internal collusion, human error, and external attacks. Customers may also integrate Fireblocks compliance partners directly into the Policy Engine to automate transaction screening workflows to meet evolving digital asset regulatory requirements and address the latest industry threats.
To learn more about Fireblocks’ new offerings to support banks and financial institutions, visit www.fireblocks.com/customers/banks-and-fmis
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it’s the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.
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Fintech PR
WSPN Appoints Former EY Global Chief Innovation Officer Jeff Wong as Independent Director
SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading stablecoin infrastructure company, announces the appointment of Jeff Wong as Independent Director. Mr. Wong brings over 25 years of experience in technology innovation and enterprise transformation to WSPN. He most recently served as EY’s Global Chief Innovation Officer from 2015 to 2024, where he spearheaded the firm’s global innovation initiatives and established EY’s advanced technology labs focusing on Artificial Intelligence, Blockchain, Quantum Computing, and Web3.
Prior to EY, Mr. Wong held leadership roles at eBay and JPMorgan Partners. He is a member of the Council on Foreign Relations, the Forbes Technology Council, and the founding Chair of Asia Society’s Technology and Innovation Council, helping drive the innovation and transformation agenda. He was also a member of the World Economic Forum’s Global Future Council on Innovation Ecosystems. He has previously served on the Oxford Foundry Board at Oxford University and the Advisory Board for AI4All. Mr. Wong is a recipient of the Outstanding 50 Asian Americans in Business award and an honoree of the A100 List by Gold House, recognizing individuals with Asian Pacific heritage who have made a significant impact on American culture and society.
“Joining WSPN at this pivotal moment in the stablecoin industry is incredibly exciting,” said Mr. Wong. “I look forward to contributing my experience in emerging technologies and enterprise transformation to help WSPN build the next generation of digital payment infrastructure.”
“Jeff’s appointment represents a significant strategic addition to WSPN,” said Raymond Yuan, Founder and CEO of WSPN. “His deep expertise in innovation management, enterprise transformation, and emerging technologies, combined with his leadership experience at global institutions, will be invaluable as we accelerate our market expansion and global development.”
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
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Refining Capacity of the Base Surpasses 50 Million Tons per Year
NINGBO, China, Dec. 26, 2024 /PRNewswire/ — China Petroleum & Chemical Corporation‘s (HKG: 0386, “Sinopec”) recently announced the mechanical completion of the second-phase expansion and advanced materials project at its Zhenhai Refinery. This milestone sets new benchmarks for innovation, smart manufacturing, and energy efficiency in large-scale projects. The refinery’s capacity has now been upgraded to 40 million tons per year, contributing to the Zhejiang Ningbo Petrochemical Industrial Base surpassing a total refining capacity of 50 million tons annually. The achievement solidifies its position as China’s largest, most advanced, and globally competitive petrochemical industrial base.
Located in the Yangtze River Delta, a key downstream product consumption hub, the Zhejiang Ningbo Petrochemical Industrial Base plays a vital role in Sinopec’s value chain. The second-phase expansion and advanced materials project, with a total investment of CNY 41.6 billion, incorporates 18 production units, including atmospheric distillation, catalytic cracking, polypropylene, and propane dehydrogenation units. By emphasizing chemical-focused processes, the project creates multiple high-value-added supply chains.
The facility’s expanded production capacity supports the development of high-end polyolefins, advanced materials, and specialty chemicals. It is expected to provide approximately 8 million tons of petrochemical products annually, significantly boosting the overall capacity of supply chains for industries such as automotive, home appliances, and textiles in the region. This expansion is forecast to generate trillions of yuan in upstream and downstream industrial value.
The project achieved remarkable progress in technological innovation and sustainability. Highlights include:
- Localization of 10 core technologies, including the world’s highest-load vertical labyrinth compressor.
- Extensive deployment of smart technologies, enabling simultaneous delivery of digital and physical factories.
- Integration of a fully localized industrial operating system and a self-developed industrial internet platform to enhance decision-making and management.
- Implementation of comprehensive energy-saving measures, achieving an overall reduction in energy consumption of 11.7%.
- Safety and quality were paramount during construction, with over 90 million consecutive safe man-hours recorded and a 100% quality pass rate for all units, setting a new industry benchmark.
Zhenhai Refinery, Sinopec’s largest integrated refining and chemical enterprise, boasts an ethylene production capacity of 2.2 million tons per year. It is also the only enterprise in China consistently ranked in the top performance group of the Solomon Global Ethylene Performance Evaluation.
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Fintech PR
2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025
NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.
“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”
What Will Happen in 2025:
QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.
What Won’t Happen in 2025:
Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.
For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/2025-will-see-increased-qr-code-payments-but-payment-card-ic-asps-will-not-return-to-pre-covid-levels-302338531.html
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