Overview
The Fireblocks Off Exchange solution allows you to efficiently and securely trade cryptocurrencies on a centralized exchange while keeping your funds safe within your Fireblocks vault. This solution enables you to trade on supported exchanges, without prefunding, by moving funds into the connected Fireblocks Collateral Vault Account (CVA) where they are stored securely. Off-Exchange helps you manage counterparty risk when trading on centralized venues.
Benefits
The Fireblocks Off Exchange capability provides you with several advantages, especially given recent exchange vulnerabilities.
Manage all counterparty risk
You remain in full custody of your funds while trading. Funds stored in the Collateral Vault Account (CVA) are retrievable in exchange-default scenarios. Fireblocks provides the underlying technology, exempting you from taking any counterparty risk to us.
Note
Only funds in the Collateral Vault Account (CVA) are retrievable. Any unsettled profits on the exchange are not secured.
Withdraw and settle on-demand
You may withdraw funds from your CVA at any time. Similarly, where supported by the exchange, you can also initiate settlements at any time via the Fireblocks Console or by way of predefined logic and thresholds via the Fireblocks API. Settlements do not impact your available balance or open positions on the exchange.
Use Fireblocks Off Exchange alongside On-Exchange functionalities
You may continue to use on-chain deposits and withdrawals alongside Fireblocks Off Exchange for supported exchanges. You do not have to create a new account or reconfigure existing accounts to use the solution.
Note
Exchanges may choose to restrict which funds can be withdrawn directly from the exchange and which can be settled via Fireblocks Off Exchange. Some exchanges may also choose not to support both On-Exchange and Off-Exchange functionality simultaneously.