Apifiny Group is plugging its crypto trading network into custodial service Fireblocks in an effort to help its clients transfer their digital assets more easily.
Apifiny’s platform gets liquidity from around 20 crypto exchanges for its institutional clients, many of whom would rather avoid typing and retyping cumbersome wallet addresses like 0xF49sWaaiEXwos304kcd, Maggie Ng, the project's chief marketing officer, told CoinDesk. Doing so is necessary to move assets in and out, but it’s also necessarily risky: One missed character – an O instead of 0 – can lead to chaos.
By joining Fireblocks’ digital asset transfer network – a web of more than 1,300 crypto companies that all hold crypto with the company – Apifiny “cuts out that pain point,” Ng said. That’s because assets held in a Fireblocks platform can be moved between exchanges without moving the assets between external wallets.
Ng said the latest incremental move precedes yet more “custodial solutions” from Apifiny that she said will improve the asset transfer experience.
Apifiny was previously slated to pursue a $530 million special-purpose acquisition company deal with Abri SPAC I, but that deal was terminated in late July, according to regulatory filings.