Falcon Finance Enhances Security with Fireblocks Integration

By using mirrored positions for all trading operations, the underlying assets are kept in safe cold storage.
The execution of this strategic plan contributes to the enhancement of Falcon Finance’s security.

Falcon Finance, the synthetic dollar protocol of the next-generation, announced today that it has integrated Fireblocks Off Exchange, dramatically improving the security framework for all user assets. Unlike custodial solutions that transfer counterparty risk to centralized clearing parties, Fireblocks takes a technology-first approach. This method allows Falcon Finance’s clients to eliminate all forms of exchange counterparty risk by programmatically locking funds in secure MPC-based shared wallets.

By employing mirrored positions for all trading operations while keeping underlying assets in safe cold storage, Falcon Finance efficiently reduces the risks associated with centralized exchanges, which have plagued the sector. This strategic plan enhances Falcon Finance’s security by safeguarding user assets against exchange risks in the synthetic dollar space.

Fireblocks is the world’s most reliable digital asset infrastructure firm, enabling businesses to build, manage, and expand blockchain operations. Their platform simplifies custody, tokenization, payment, settlement, and trading processes across a vast network of exchanges, custodians, banks, payment providers, and stablecoin issuers, making it the most secure and complete in the industry.

Andrei Grachev, Managing Partner at Falcon Finance, stated:
> “User asset security is our absolute priority at Falcon Finance. By building on Fireblocks’ institutional-grade custody technology and off-exchange solution, we’ve created a secure environment where assets never touch exchange hot wallets, eliminating a critical vulnerability in the custody chain.”

Three Key Security Advantages:

1. Off Exchange Asset Protection: All user deposits are secured by Fireblocks, with Falcon’s trading activities on centralized exchanges executed via mirrored positions. This ensures users maintain full control of their assets, avoiding risks associated with exchanges.
2. Greater Insulation from Exchange Risk: User assets are kept completely separate from exchange hot wallets, minimizing the chance of exchange-level security breaches.
3. Institutional-Grade Security: Falcon Finance uses the innovative Multi-Party Computation (MPC) technology developed by Fireblocks. This technology divides cryptographic key shards among multiple safe nodes, eliminating single points of failure while ensuring transactional integrity and operational efficiency.

The integration of Fireblocks with Falcon Finance is a significant milestone in the company’s commitment to providing safe and transparent digital asset management. Looking ahead, Falcon Finance will continue to enhance its security infrastructure and explore new innovations to safeguard customer funds, ensuring sustainable yield.

Falcon Finance is a synthetic dollar protocol that sets a new benchmark in the industry, preserving user multi-assets while providing competitive returns regardless of market conditions. It also emphasizes transparency, security, and institutional-grade risk management.