Helsinki, February 12, 2024 – Kvarn Capital, an innovative and fast-growing digital assets firm licensed under the Finnish Financial Supervisory Authority (FIN-FSA) has joined forces with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, to provide enterprise-grade custody services to its individual and institutional clients. The Fireblocks integration provides Kvarn with a battle-tested, ISO-certified (27001, 27017, 27018), and secure wallet infrastructure for moving and storing digital assets.
Kvarn Capital Chief Investment Officer and Founding Partner, Joonas Järvinen, emphasizes the importance of the Fireblocks collaboration: ”Kvarn's mission is to provide innovative, high-security investment solutions in the crypto sector for Nordic and European clients and build a trusted, regulated bridge between traditional legacy capital and digital assets. Teaming up with Fireblocks, a leading global digital assets infrastructure provider, allows us to leverage a highly scalable, compliant and secure infrastructure, as well as best-in-class transaction monitoring tools.”
The Markets in Crypto-Assets Regulation (MiCA), a landmark crypto regulatory framework in the EU, is set to take full effect in 2024 and is expected to emphasize the importance of compliance and best practices in digital assets trading and custody. Having seamless compliance integrations through the Fireblocks collaboration enables an effective way to meet the new digital asset regulatory requirements and standards, including Travel Rule obligations for European CASPs.
Stephen Richardson, Managing Director, Financial Markets at Fireblocks, said, “We are excited to work with Kvarn Capital to provide our battle-tested and flexible wallet infrastructure with multi-layer security, ensuring their clients’ funds are always protected. Additionally, Fireblocks’ compliance integrations allows Kvarn Capital to meet evolving regulatory requirements and address the latest industry threats.”
Since 2019, the Finnish Financial Supervisory Authority has required Virtual Asset Service Provider (VASP) registration from all virtual asset service providers. MiCA will provide a framework that unifies digital asset regulations across the EU and enable cross-border operations with a single license issued in any member state. Kvarn Capital’s integration of Fireblocks’ wallet infrastructure helps ensure not only operational excellence, but also regulatory compliance now and into the future.
Kvarn is a professional and regulated partner for investments and asset management in the digital assets space. Kvarn X, a trading platform provided by Kvarn Capital, offers the largest selection of cryptocurrencies in the Nordics. Professional liquidity, seamless order execution, and institutional custody setup supported by Fireblocks infrastructure provide professional access to crypto trading for individuals and institutions. Kvarn Capital Oy (Kvarn X) is regulated under the Finnish Financial Supervisory Authority (FIN-FSA) as a Virtual Currency Service Provider (VASP) and as a Registered Electronic Money Institution (EMI). In addition to Kvarn X’s professional brokerage and trading services, Kvarn Group’s product range includes digital asset Alternative Investment Funds (AIFs) tailored to the needs of professional investors. The funds are managed by Kvarn Asset Management, a registered alternative investment fund manager (AIFM), under the supervision of the Financial Supervisory Authority (FIN-FSA). For more information, please visit www.kvarncapital.com.
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.
Media contacts
Sharmin Cheema - scheema@fireblocks.com
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