BDACS Taps Fireblocks to Upgrade Custody Infrastructure
Summary
- BDACS said it has selected global blockchain infrastructure company Fireblocks as its technology partner to upgrade custody operations for corporate clients and stablecoin trading infrastructure.
- BDACS said integrating Fireblocks' infrastructure will strengthen its digital-asset and multichain operating capabilities across multiple blockchain networks, while improving security and operational efficiency in asset transfers and stablecoin transactions.
- BDACS said it is building an operating system that can manage infrastructure across assets and chains in an integrated way, based on its Prime Custody Solution, which has surpassed 80 billion won ($58 million) in assets under custody, and the multichain expansion of its won-based stablecoin KRW1.
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Digital-asset custody firm BDACS said on September 21 that it had selected global blockchain infrastructure company Fireblocks as its technology partner to enhance custody operations for corporate clients and upgrade its stablecoin trading infrastructure.
Under the partnership, BDACS will connect Fireblocks' infrastructure with its existing custody operating system to strengthen multichain capabilities supporting a range of blockchain networks and digital assets. The company also plans to improve security and operating efficiency in asset transfers and stablecoin transactions.
Fireblocks is an enterprise platform that supports more than $16 trillion in digital-asset transfers across more than 200 blockchains. Its multiparty computation, or MPC, security architecture and policy engine support transaction approvals, asset segregation and operational governance.
BDACS currently provides digital-asset custody services to corporate clients through its Prime Custody Solution. Assets under custody had exceeded 80 billion won ($58 million) as of the first half of this year.
The company is also linking its won-based stablecoin KRW1 to multiple mainnets, including Ethereum, Avalanche, Circle ARC, Polygon and Aptos. As the number of supported assets and connected chains increases, BDACS is building an operating system to manage infrastructure across assets and chains in an integrated manner.
Chief Executive Officer Ryu Hong-yeol said the adoption of Fireblocks had strengthened the security framework of the Prime Custody Solution based on MPC technology. He added that the company would build an environment where domestic and overseas institutional investors can entrust assets more securely.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.