Fireblocks, an enterprise platform providing digital asset infrastructure solutions to businesses building on blockchain, and MultiBank, the cryptocurrency exchange arm of MultiBank Group, one of the world's largest financial derivatives institutions, today announced the broadening of their collaboration with the launch of MultiBank's $MBG utility token.

Since 2022, MultiBank has leveraged Fireblocks to manage its treasury operations and safeguard customer funds. Now, the exchange will also utilize the Fireblocks Tokenization Engine to support the secure minting, burning, vesting, and automated distribution of its new utility token - designed to offer end users benefits such as discounted trading fees and increased platform utility.

"As we continue to expand our digital asset offerings and serve a growing global client base, having the right infrastructure provider is critical," said Zak Taher, CEO of MultiBank.io. "Fireblocks' end-to-end tokenization platform powers these capabilities through programmable smart contracts and an institutional-grade governance framework - enabling MultiBank to scale its product offerings rapidly, without compromising on security or performance."