Digital assets trading firm QCP has launched a tri-party solution aiming to provide enhanced protection for its clients’ assets, which is supported by digital assets infrastructure platform Fireblocks. 

According to a press release, the new solution eliminates the need for clients to withdraw assets from custody for income generation, which QCP says will reduce counterparty risk and facilitate access to investment strategies.

In addition, Fireblocks' security infrastructure, which combines multi-party computation cryptography with hardware isolation, has been implemented to safeguard digital assets throughout the process.

New York-based technology volatility fund 5 North and Asia-based venture capital firm Artichoke Capital will be the first adopters of the tri-party solution.

Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks, commented: “Blockchain technology stands to bring numerous benefits to collateral management, including providing greater liquidity for large volume trading, as well as mitigating settlement and counterparty risk.

“By leveraging Fireblocks’ multi-layer security technology, QCP’s institutional clients can trade with confidence, safe in the knowledge that their digital assets are secured at all times.”

QCP was established in 2017 and is headquartered in Singapore. The firm offers tailored derivatives, spot trading and structured solutions to institutional, professional and accredited investors.