Deribit integrates with Fireblocks to offer Off Exchange Settlement

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By BitcoinWiki News

– Deribit is the first exchange to integrate the Off Exchange solution to its infrastructure
– Off Exchange solution enables trading firms and asset managers to trade on Deribit from an on-chain MPC wallet, eliminating counterparty risks
– Deribit is strongly committed to resolving and mitigating counterparty risks
– Off Exchange solution delivers a blockchain-native solution to eliminate all forms of counterparty risks for Deribit traders
– Fireblocks Off Exchange solution provides Deribit with transparency to monitor and validate collateral on-chain and enforce risk management
– Deribit and Fireblocks partnership significantly advances the next generation of digital financial markets
– Deribit account must be verified and completed supplementary terms specific to the Fireblocks Off Exchange model
– Operational set up steps involve adding Deribit as an Exchange connection on the Fireblocks workspace and adding an API user as Collateral Signer
– Deribit activates the feature on the Deribit account, and settlement begins the following day.

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