WazirX, one of India's largest crypto exchanges, has taken a major step towards enhancing the safety of funds on its platform by integrating Fireblocks, an enterprise-grade digital asset custody and operations platform. The move, announced to the public today, will introduce institutional custodial tools to WazirX's backend as the company aims to expand its operations and expand its blockchain support.
This partnership connects WazirX to a network used by thousands of financial companies. Fireblocks says its platform is trusted by more than 2,400 institutions and has secured the movement of more than $10 trillion in digital asset transactions across dozens of blockchains. This pedigree is important for exchanges seeking both reliability and the type of control that financial counterparties expect.
The most visible change for users is the way assets are stored and approved for movement. Fireblocks uses Multi-Party Computation (MPC) wallet technology that splits signing authority among multiple parties and devices, so a single private key is never exposed. This design eliminates the traditional single point of compromise and raises the bar for attackers. WazirX says this will allow it to implement institutional-grade custody management without sacrificing the speed needed to operate an exchange.
Increase user security
Beyond the underlying encryption, Fireblocks brings a policy and governance layer that allows operators to define transaction rules, approval workflows, and access boundaries down to assets, amounts, counterparties, and user roles. These granular transaction policies and automated approval flows aim to reduce the risk of fraudulent or anomalous transfers by forcing multiple stages of verification before moving funds. Integrations with third-party compliance and monitoring tools enable teams to perform real-time transaction screening.
Operational resiliency is another selling point here. Fireblocks' platform is built for high-volume automated storage and payments with real-time monitoring and policy enforcement designed to support rapid growth and more complex on-chain activities. For exchanges like WazirX that are expanding the number of chains and services they support, these features are intended to reduce scaling risk and ease auditing.
Nischal Shetty, founder of WazirX, summed up the rationale succinctly: “Security and asset safety remain WazirX's top priorities. As our platform evolves, we continually review and enhance our systems to reduce risk and improve resiliency.” The company said the integration of Fireblocks will provide greater control over access and transaction authorization, improving how assets are stored and protected on the platform.
While technological solutions are no silver bullet, the combination of WazirX's user base and Fireblocks' organizational tools represents a clear effort to reshape storage practices and provide peace of mind to customers. As exchanges continue to face advanced threats and increased regulatory scrutiny, investments in strict custody and transparent governance are likely to be key factors, and WazirX's latest move is a visible example of that trend.
