Australian fintech Block Earner has deployed Fireblocks’ custody technology for its crypto-backed lending service.

Block Earner is a crypto-backed lending platform operating under an Australian Credit Licence.

The company uses Fireblocks’ multi-party computation technology to protect digital assets pledged as collateral and reduce single points of failure.

Block Earner reported no security incidents since adopting Fireblocks.

It has also increased supported loan sizes and launched a business-to-business service for exchanges and digital asset platforms.

The offering allows these firms to provide crypto-backed loans without building their own custody infrastructure.

Block Earner is also looking to expand beyond Australia.

Fireblocks’ global network and compliance infrastructure could support its entry into new markets.

Lauren Minicozzi, Growth and Partnerships Manager at Block Earner, said,

“Fireblocks gave us the confidence to launch our lending product, knowing our customers’ digital assets would be protected by institutional-grade infrastructure.

That allowed us to focus on building innovative financial products instead of custody technology.”

Amy Zhang, Head of Asia Pacific at Fireblocks, said,

“We’re proud to support Block Earner as it brings Australia’s first crypto-backed lending platform to market and demonstrates that security isn’t just a nice-to-have, but enables businesses to scale with confidence, from launching new products to expanding into new jurisdictions..”

Fireblocks has also supported Australian digital asset projects, including Project Acacia and stablecoin initiatives.

It works with exchanges, custodians and payment providers in the market.

Featured image: Edited by Fintech News Australia, based on image by f11photo via Magnific