Summary
1. On-Chain Transformation of Finance
The on-chain transformation of financial operations has become a reality due to regulatory changes in the United States and the entry of major players. We are entering an era of 'triple point' where traditional finance and crypto asset players coexist, and there is a rapidly growing demand for next-generation infrastructure that operates safely in real-time.
2. Acceleration and Standardization of Infrastructure
The introduction of the new technology 'MPC-BAM' has enabled fast signature processing. For the widespread adoption of stablecoins, the biggest challenge is not only ensuring thorough security but also improving intuitive usability and standardizing system operations for payments and regulatory compliance.
3. Integration from Crypto Assets to 'Finance'
It is predicted that the framework of the 'crypto asset industry' will eventually disappear and be integrated into existing 'finance'. Particularly in the Japanese market, with its large economic scale and regulatory revisions, the elements for digital asset success are in place, and there is great potential for future development.
── As of 2026, the digital securitization of real estate, gold, bonds, and other assets has completed its pilot phase and entered the operational phase. What is Fireblocks focusing on amid this major trend towards 'productionization'?
Michael Shaulov (hereafter, Shaulov): I describe the current situation as a 'triple point'. This is a scientific term referring to the point where water can coexist in three states—liquid (water), gas (vapor), and solid (ice)—under specific temperature and pressure. What is happening in the financial industry now is very similar to this.
We are witnessing a situation where the concept of executing financial products, operations, and even mainstream financial services on-chain has become a reality through two events.
The first is last year's regulatory changes in the United States. The second is the entry of aggressive existing major companies like Stripe into this field, offering payment and stablecoin functionalities.
These have triggered several major movements. First, crypto-native players such as exchanges, neobanks, and trading firms have rushed into this field.
They realized that they could now trade not only Bitcoin and Ethereum but even crude oil contracts on Hyperliquid. Since they already had their own infrastructure, they quickly began to participate in these new flows.
Next, traditional financial institutions like banks and payment companies realized they needed to dive into this field and inject their capabilities into it.
Fireblocks has been at the center of enabling these changes and providing infrastructure. We offer comprehensive wallet functionality that can execute transactions with high processing power across all asset classes.
This is not just about buying Bitcoin and leaving it in cold storage for five years. It's about how to build infrastructure that functions in real-time for use cases in payments and capital markets—this has been our core strength and focus since day one.
We have also expanded our business to include a 'Tokenization Engine' that allows anyone to tokenize any type of asset, including stablecoins, tokenized deposits, tokenized securities, and commodities. Our products function safely and in compliance, enabling users to realize such projects with minimal effort.
Finally, another important aspect is our ability to support the 'network effect' across all these different asset classes. We have led the market through the 'Fireblocks Network' designed for crypto assets.
Last year, we launched a payment network designed for stablecoin transactions. We are currently working on developing a network for RWA tokens to facilitate the circulation of tokenized securities and other assets.
── It has been over six months since the launch of the new algorithm 'MPC-BAM', which was mentioned in the July 2025 interview as having 100 times the efficiency of traditional methods. What breakthroughs has it brought to client transaction processing since its operational launch? Also, tell us about its market adoption status.
Shaulov: MPC-BAM transitioned from beta to general availability in March and has already recorded a very high adoption rate. As of a week ago (at the time of the interview), 20% of transactions on Fireblocks were already using MPC-BAM. The adoption has progressed extremely rapidly, within less than a month of its introduction.
Our clients are very satisfied with this result because they can achieve signatures in less than a second while enjoying all the basic security features. This allows users to significantly reduce their infrastructure resources while expanding their systems.
Top-tier retail fintech companies and entertainment companies have already begun adopting it.
