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FIS (World's Largest Processing & Payments Provider) To Enable Institutional Bitcoin Tradingbitcoinmagazine.com/markets/fis-to-launch-bitcoin-crypto-trading
21 sats \ 4 comments \ @kr 13 Apr 2022 bitcoin
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10 sats \ 2 replies \ @k00b 13 Apr 2022
In an effort to understand this announcement I went and tried to figure out what Fireblocks is. It looks like a custody and multi-asset management system - like a "crypto" wallet built for institutions that integrates directly with a lot of other institutions like exchanges.
FIS has even more gobbledygook on their site. Both have that corporate style site that creates an impenetrable layer of confusion about what their product is and how you might use it: "we do everything, look at all the people we do everything for, don't you want us to do everything for you?"
kr's title says why FIS is important but I'm not sure what this announcement amounts to, e.g. how are FIS's users going to be using Bitcoin? Are they hodling, transferring, or trading?
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31 sats \ 0 replies \ @kr OP 13 Apr 2022
I'm by no means an expert on the institutional space, but this line from the Bitcoin Magazine article was the most useful bit of info for me:
This partnership allows FIS clients to move and store bitcoin and other cryptocurrencies, gain access to self-custodied wallets, a transfer network, and other advanced forms of digital asset management.
I think the gist of it is that more institutions will now have more options for self-custody and crypto transferring/trading.
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10 sats \ 0 replies \ @cryptocoin 13 Apr 2022
The organization is known as WorldPay FIS to many, or even just WorldPay (which FIS acquired in 2019).
The last line of the article tells their significance in the space (as the organization that enables payment cards to be used for depositing to these top exchanges, from retail, in many markets around the world).
Worldpay provides services to four of the top five cryptocurrency exchanges, FIS said.
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0 sats \ 0 replies \ @cryptocoin 13 Apr 2022
“The strategic partnership with FIS will bring the Fireblocks technology to nearly every type of buy-side, sell-side and corporate institution in traditional assets,” said Michael Shaulov, Chief Executive Officer at Fireblocks. “Together, we will enable a quick way for existing and prospective FIS clients to onboard their digital asset operations and begin tapping into these fast-growing markets.”
In March, Worldpay from FIS partnered with Shyft Network to enable its merchant clients to more easily comply with current and evolving regulatory requirements in the new ecosystem. Worldpay provides services to four of the top five cryptocurrency exchanges, FIS said.
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