Zodia Markets Partners With Fireblocks to Make Cross-Border Payments More Efficient

cryptonews.com:

Standard Chartered-backed crypto exchange and brokerage Zodia Markets and crypto custody technology provider Fireblocks have partnered to improve cross-border payments.

In an announcement, UK-based Zodia Markets said the collaboration will address banking challenges and improve efficiency by allowing value transfer utilizing digital assets.

“Cross-border payments between many jurisdictions suffer from slow transaction speeds, limited availability during business hours, high costs and a lack of transparency,” said Nick Philpott co-founder of Zodia Markets, in a press release.

“Stablecoins enable value transfer using the internet, granting corporate entities a competitive edge the internet provides to other industries today,” said Philpott.

The partnership involves the integration of Zodia Markets’ multi-currency digital asset execution capabilities, and the Fireblocks Network, a digital asset transfer platform for digital asset transactions allowing clients to transfer funds quickly.

Fireblocks identifies there’s growth in stablecoin usage. The firm has previously reported that 30% of Fireblocks clients pay in stablecoins, and that’s only set to rise.

“For some time now, we’ve witnessed a growth in adoption amongst our network to use stablecoins as a near-instant and cost-effective way to transfer value,” said Richard Astle, VP Business Lead Fireblocks Network, in a press release.

“The expansion to non-USD on/off ramps is also on the rise which makes this collaboration with Zodia Markets not just unique in its value proposition, but also marks the beginning of bringing FX on-chain,” adds Astle.

Fireblocks is gearing up for the crypto bull market and has recently expanded its team with new executive hires. The firm