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Binance.US Enhances Security and Staking Services Through Fireblocks Partnership
Discover how Binance.US strengthens its security and staking services by partnering with Fireblocks. Explore the benefits of this collaboration and how it enhances user safety and experience in the cryptocurrency space.
Binance.US Partners with Fireblocks for Enhanced Security and Staking Services
Binance.US, the American branch of the world’s leading cryptocurrency exchange by trading volume, is taking significant steps to enhance its security protocols and user confidence. The exchange has announced a partnership with Fireblocks, a prominent crypto custody firm, aimed at ensuring that customer assets are managed in a secure and compliant manner. This collaboration comes at a time when regulatory scrutiny is intensifying across the cryptocurrency landscape.
The integration of Fireblocks’ wallet technology will facilitate both hot and cold custody solutions for customer deposits and withdrawals. This advanced key-management system is expected to not only enhance asset protection but also expand the variety of staking services available on the platform. Binance.US is already known for offering a considerable selection of staked tokens compared to other U.S.-based exchanges, and this partnership is set to further bolster those offerings.
Since its inception in 2019, Binance.US has faced heightened regulatory scrutiny, particularly following a sweeping enforcement action last year against its parent company, Binance, and its founder, Changpeng Zhao. The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding Binance.US’s transparency, particularly in relation to compliance with requests for information about customer assets, including custody and control of private and administrative keys.
As regulators place increased emphasis on security and compliance within the crypto industry, it becomes imperative for platforms to adopt cutting-edge technology that meets regulatory demands without compromising user experience. Michael Shaulov, CEO of Fireblocks, emphasized the importance of this integration, stating, “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 further highlighted the benefits of the partnership, noting that “With Fireblocks, they can scale up staking operations securely and efficiently, giving users a smoother experience while staking their tokens and earning rewards.”