Continue reading this on our app for a better experience

Open in App
Home Capital Digital Economy

PhillipCapital taps Fireblocks to expand digital assets offerings

Douglas Toh
Douglas Toh • 3 min read
PhillipCapital taps Fireblocks to expand digital assets offerings
Symphony aims to be a one-stop destination for the digital asset landscape. Photo: Bloomberg
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Financial services firm, PhillipCapital has today unveiled the launch of its latest digital asset member, Symphony digital assets or Symphony.

Created via a strategic collaboration with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, Symphony will offer a new suite of digital asset solutions to its clients.

The first product, the Symphony digital asset wallet, is slated to launch in the first quarter of this year.

The Symphony digital asset wallet, which leans on PhillipCapital’s financial service expertise and Fireblock’s enterprise-grade Multi-Party Computation (MPC-CMP) technology, will enable clients to securely store and transact their digital assets.

The service will be first introduced via PhillipCapital’s mobile trading application, POEMS Mobile 3. 

Simultaneously, Symphony will debut a complimentary digital collectible, the People of Phillip NFT collection, for individuals registering for the digital asset wallet via the POEMS Mobile 3 App.

See also: Redefining Asean’s manufacturing landscape with deep learning

In subsequent stages, the Symphony digital asset wallet is set to become accessible as an independent custody service and platform, enabling organisations to effortlessly establish and oversee digital asset wallets, ensuring ease and efficiency in their management.

In addition to the Symphony digital asset wallet, further products in the pipeline later this year include tokenized real-world assets, and smart contract services. With these plans in place, Symphony aims to be a one-stop destination for clients looking to explore the full potential of the digital asset landscape.

“Symphony digital assets is not just a step into the future of finance; it is a shaper of finance’s future,” says CEO of Symphony digital assets, Seh Huan Kiat.

See also: No net zero without the help of SMEs

“Our collaboration with Fireblocks will combine decades of financial expertise from PhillipCapital with Fireblocks’ cutting-edge technology. This is a significant stride towards a new era in digital asset management to serve clients interested in this emerging space.”

Luke Lim, managing director of Phillip Securities, calls the collaboration “a significant milestone” in the firm’s bid to expand its range of services and cater to the evolving needs of its clients. 

“More of our clients are looking at digital assets as the next frontier in investment and asset management. It is important to us to work with a trusted digital asset infrastructure provider with a proven track record of creating secure MPC wallets at scale, so that our clients can accord the same level of trust to Symphony Digital Assets as they have shown to PhillipCapital over the years,” adds Lim.

Stephen Richardson, managing director, financial markets and head of Asia-Pacific (APAC) at Fireblocks says his company is “proud” to be working with PhillipCapital. 

“The launch of PhillipCapital’s digital asset custody services is a testament to their unwavering dedication to meet clients’ evolving financial needs and we are excited to be part of this journey with them as they bring more innovative digital asset solutions to market,” he adds.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.