One of Germany’s oldest banks uses firewalls to keep customers’ crypto out

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Fireblocks, a newly inducted crypto unicorn, has been selected by Bankhaus von der Heydt, a 267-year-old German private bank, to lead its digital asset efforts.

According to a press release shared with CoinDesk on Thursday, the bank will leverage Fireblocks custody technology in combination with the Fireblocks network to expand digital asset and crypto service offerings to its customer base.

“Fireblocks provides us with a secure and easy-to-use platform to develop complex operational workflows such as switching between asset trading and custody, asset staking on custody or even direct integration with protocols. loan to expand our service portfolio, ”said Philipp Doppelhammer, Managing Director of Bankhaus von der Heydt. “With Fireblocks, we are getting closer and closer to being the one stop shop for our customers. “

Opened in 1754, the BaFin-supervised Bankhaus von der Heydt is one of the first banks in Germany to offer crypto trading and custody services for financial institutions, the statement said.

The bank said it has integrated the Fireblocks platform and infrastructure as a central component of its digital asset custody solution to increase “operational efficiency and security.” Fireblocks provided “all relevant blockchain protocols” as well as API exchanges and integration into its existing IT architecture, the bank said.

Fireblocks recently raised $ 310 million in a Series D funding round, securing the unicorn status of the cryptocurrency custodian platform with a valuation of $ 2 billion. Starting this year, the custodian company was selected by America’s oldest bank, BNY Mellon, to provide its clients with crypto custody solutions.

“Supporting Bankhaus von der Heydt marks another key step in our mission to bridge the gap between digital asset banking and traditional finance,” said Michael Shaulov, CEO of Fireblocks. “As a pioneer in Germany for over 250 years, Bankhaus von der Heydt is regarded as a trusted partner for innovative financial market solutions and we are proud to work alongside them to revolutionize the financial industry and strive to bring every blockchain banking service. space, safely.

Read more: Crypto Custody Firms Fireblocks opens office in Switzerland


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