How GlobalBlock Supports Its Clients with Institutional Security and Settlement

2023-03-22  •  4 min read

Use cases: 

  • Cold storage: Qualified Wallet

  • Off-exchange settlement: Mirror

With a digital asset trading platform serving a clientele including high-net worth individuals, institutional investors and corporate clients, UK-based brokerage firm GlobalBlock needed a partner that could provide robust custody support for the 100+ digital assets it offers its clients, as well as the ability to continue executing trades on an exchange without compromising on the security of their digital assets. 

Depth of asset protection and coverage

Ceffu’s wide-ranging token and network support, covering over 250 digital assets in custody on 12+ blockchains, has been instrumental in ensuring GlobalBlock can provide institutional-grade custody of their clients’ assets, as well as their own. Powered by multi-party computation (MPC) technology, our cold storage solution, Qualified Wallet, has given GlobalBlock the confidence to run their business operations knowing all assets deposited are backed by the highest standards of protection. 

“One of the most important elements for us was ensuring that if we’re offering assets to our clients, then we should be able to custody them safely and efficiently. What attracted us to Ceffu was its depth of asset coverage within the custody platform, which helps us address our client demands. Based on their requests for various tokens, we can buy the assets first, then with Ceffu as our partner we can store it within its custody solution and reassure our clients that their assets are safe.” - David Thomas, Director – GlobalBlock

Deep liquidity without compromising on security

As the industry continues to evolve, so do the needs of institutions wanting to do more with their assets than leaving them sitting idle in cold storage. Beyond the custody of assets on behalf of its clients, GlobalBlock needed a solution that could support its trading needs while ensuring the same levels of security enjoyed from cold storage. Our off-exchange settlement solution, Mirror, brings the best of both worlds: it offers GlobalBlock a unique gateway to the world’s most liquid cryptocurrency exchange with Ceffu being Binance's sole off-exchange custody partner, and minimizes counterparty risk by keeping GlobalBlock’s assets safe in its cold wallet on Ceffu. 

“What we love about the Mirror product is we don’t have to keep moving our assets from cold to hot storage to take advantage of price and trades, and it gives us access to the deep liquidity of Binance. With Ceffu’s depth of assets, we can trade against them by mirroring them over to the Binance Exchange, and that’s been a leap of confidence in our ability to both store and trade against assets despite the current [bear] market." - David Thomas, Director – GlobalBlock

Securing your institutional crypto assets with Ceffu

Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Our MPC technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing our institutional clients to safely store and manage their digital assets through our insured, segregated cold storage solution, Qualified Wallet. 

Institutions also benefit from our secure gateway to a wide range of liquidity products within the Binance ecosystem as the Binance Exchange’s institutional custody partner. Through Mirror, institutions dedicate a specified amount of their asset balance available in their Qualified Wallet and can mirror it onto their Binance Exchange account with a 1:1 balance. Their assets remain secure in their segregated cold wallet for as long as their Mirror position remains open on the Binance Exchange, which can be settled at any time.

For more information, please contact our relationship management team.

About GlobalBlock

GlobalBlock was founded in 2018 to provide a service driven, transparent and secure cryptocurrency brokerage to assist Private Individuals and Corporate businesses that were looking to trade within or gain exposure to the burgeoning cryptocurrency market. Over this time, the company has grown to become one of the main brokerages in the space to provide dedicated, readily available support to clients from many countries around the world, helping to guide them in the cryptocurrency markets as well as offer transparent pricing, a trading application and their latest product GB10- which allows clients to buy a tracked portfolio of the top 10 cryptocurrencies by market cap that is regularly updated and re-weighted each month.