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Fireblocks Launches "Off Exchange" Trading System to Eliminate Counterparty Risk on Centralized Exchanges

Fireblocks, a multi-party computation (MPC) wallet provider, has launched a new trading system called "Off Exchange" for institutional traders. The system allows traders to swap tokens without depositing them on the exchange, reducing counterparty risk. Off Exchange uses a shared MPC wallet with three shards, with two out of three shards required to sign a transaction, preventing unilateral withdrawal of assets by either the trader or exchange. The system has already been implemented by QCP Capital, Blocktech, and Zerocap for trading on Derebit, with plans to support other exchanges in the future.

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