Loans
Our Approach to Security: How Fireblocks Protects Digital Assets for Crypto-Backed Loans
When you take out a crypto-backed loan to borrow against your Bitcoin, ETH or XRP, your digital assets are held securely as security for the duration of your loan. Because protecting those assets is our highest priority, we built our operations on Fireblocks, a leading digital asset infrastructure platform used by financial institutions and digital asset businesses around the world.
In this article, we'll explain why we chose Fireblocks and the operational controls that help protect digital assets throughout the life of a loan.
Key takeaways
- Security is central to our lending products. When you borrow against your digital assets, those assets are held securely as security for the duration of your loan. That's why we built our operations with institutional-grade infrastructure and operational controls from day one.
- We use Fireblocks infrastructure. Our treasury operations are built on Fireblocks, a digital asset infrastructure platform trusted by leading financial institutions and digital asset businesses globally.
- Multi-party computation (MPC). Fireblocks uses MPC technology, which distributes transaction authorisation across multiple cryptographic shares rather than relying on a single private key. This is designed so no single key or individual can authorise transactions unilaterally.
- Wallet whitelisting. Transactions can only be made to pre-approved wallet addresses, providing an additional operational control designed to reduce the risk of unauthorised transfers.
- Institutional certifications and controls. Fireblocks' infrastructure is independently audited and certified to institutional standards, including SOC 2 Type II and ISO 27001/27017/27018 certifications. For asset protection, Fireblocks holds the premier CCSS Level 3 certification for its multi-party computation (MPC) wallets, which is further hardened through native integration with FIPS 140-2 Level 3 hardware security modules.
Building Australia's leading crypto loan product
Block Earner was founded to bring blockchain-powered finance to everyday Australians. Today, that includes cryptocurrency trading, crypto-backed loans, and bitcoin-backed home loans.
Back in 2023, when we set out to launch Australia's first crypto-backed line of credit, there were very few examples of crypto-backed lending products operating locally. That meant designing not only the lending product itself, but also the operational model that would support it.
From the outset, we wanted our infrastructure to help address some of the key operational risks associated with managing digital assets. Those requirements ultimately led us to build on Fireblocks.
Why we built on Fireblocks
We use Fireblocks as the digital asset infrastructure. Fireblocks is trusted by many of the world's leading digital asset businesses to securely manage digital assets at scale.
We chose to build on infrastructure specifically designed for institutional digital asset operations. This allows us to implement mature technology while focusing on what we do best: building innovative lending products that bridge traditional and blockchain-based finance.
How does MPC work? Multi-party computation (MPC)
A common risk in digital asset management comes down to a single private key. If one person controls that key, they can authorise transactions independently.
Fireblocks takes a different approach by using Multi-Party Computation (MPC). Instead of relying on a single private key, MPC distributes transaction authorisation across multiple cryptographic shares. This is designed so that no single key or individual can access or move digital assets unilaterally.
By removing reliance on a single key, MPC helps reduce single points of failure and supports a more resilient security model.
What is wallet whitelisting?
Fireblocks also enable wallet whitelisting, allowing transactions only to pre-approved wallet addresses. Rather than permitting transfers to arbitrary destinations, digital assets can only be moved to wallets that have passed our internal approval processes.
This provides an additional operational control designed to reduce the risk of unauthorised transfers and human error.
How do these controls work together?
Together, these controls help reduce operational risk by limiting reliance on any single individual, restricting where digital assets can be transferred, and supporting institutional governance around digital asset management. They form an important part of the security infrastructure that underpins Block Earner's lending platform.
Infrastructure that supports our lending platform
By building on Fireblocks, Block Earner can operate with infrastructure designed to support institutional digital asset operations. That infrastructure supports our existing range of crypto-backed loans, from retail customers borrowing against Bitcoin, ETH or XRP through to larger business lending facilities.
As our product offering continues to evolve, building on institutional-grade infrastructure gives us confidence that our operational capabilities can grow alongside it.
What's next
As Block Earner continues to grow, we're focused on expanding the range of lending products that bring together traditional finance and blockchain technology, while exploring opportunities to expand into additional markets over time.
Whether we're launching new lending products, supporting additional digital assets, growing our B2B platform or entering new jurisdictions, security will remain a core pillar of how we build Block Earner.
From the beginning, our goal has been simple: give Australians access to innovative products backed by digital assets and blockchain technology. Fireblocks are a key part of delivering on that vision.
Want to learn more? Explore Block Earner's crypto-backed loans.
Disclaimer: The information contained in this blog is general in nature and is provided for informational purposes only. It does not constitute financial, legal, or tax advice, and should not be relied upon as such. Block Earner does not guarantee the accuracy or completeness of any information presented. You should consider your own personal circumstances and seek professional advice before making any financial or investment decisions. Past performance is not indicative of future results. All investments carry risk. Crypto-backed loans carry real risks. The value of your crypto can fall sharply, rapidly increasing your LVR and reducing any initial buffer. This may require you to add security or repay part of the loan and could result in some or all of your crypto being sold.
*Approved applicants only. Terms, conditions, fees and charges apply. Credit provided by Web3 Loans Pty Ltd ACN 668 516 952 and managed by Web3 Ventures Pty Ltd trading as Block Earner (ACN 655 090 869) under Australian Credit License 542689.
