Fireblocks announced today that Revolut, a UK based payment service start-up, valued at over $5 billion, will use its MPC-based wallet and network infrastructure to support the introduction of new crypto services for its 13 million global retail customers.

Revolut is a financial services company that offers both banking services and a cryptocurrency exchange with peer-to-peer payments. The partnership between Fireblocks and Revolout could help make MPC-based cryptocurrency security the standard for future digital payments.

Fireblocks’ solution combines both multi-party computation-based cryptography with chip-level isolation technology. Michael Shaulov, Fireblocks’ CEO, pointed out that combining the two methods removes the single point of failure from the key-management process and enables hardware-based authentication of counterparties’ transactions.

“It is crucial that our platform takes advantage of the best crypto management solution in the industry because of our market share and worldwide presence,” said Ed Cooper, Head of Crypto at Revolut. “Moving to Fireblocks’ wallet infrastructure gives us a competitive edge over other financial applications as it will enable us to rapidly add more advanced crypto features as space continues to evolve at breakneck speed: we are now working closely with the Fireblocks team to explore all the new experiences that we can offer our customers in the near future.”

“We have seen a tremendous amount of demand from fintech and challenger banks, especially ones that have begun foraying in the retail crypto market,” said Michael Shaulov, CEO of Fireblocks. “We are excited to assist Revolut in driving the adoption of cryptocurrency by providing a trusted infrastructure for the next billion people coming into crypto.”