BlockFi adopts Duco to advance intelligent automation agenda
17th June 2021, London UK – Duco, the global provider of cloud-based data integrity and reconciliation services, today announced that BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, has chosen to deploy the Duco platform globally and enterprise-wide, to advance its automation, control and scaling agendas.
BlockFi’s diverse and geographically distributed business encompasses a wide variety of business units and generates operational and financial data that must be controlled. Duco will be used across business lines and geographies to automate all reconciliation and data integrity use cases and to eliminate the need for any inefficient manual processes or time spent building non-core internal technology.
“At Blockfi, we need to be able to adapt to changes quickly both internally and for our clients. Duco’s technology gives us that advantage as we continue to grow our footprint globally”, said Michael Walsh, Institutional Operations Director, at BlockFi. “We were impressed with the speed of deployment, governance, and process efficiency that Duco provides. Duco allows us to be versatile and adapt with the growing cryptocurrency industry.”
Christian Nentwich, CEO of Duco, added: “We are pleased to have won the trust of BlockFi in the crypto space. Duco is seeing increasing adoption in crypto and DeFi, handling fiat, blockchain and derivatives-related controls at scale with no business interruptions and near-immediate value, as the platform adapts itself to the use cases using machine learning. Duco’s cloud-native model is ideally suited to firms who operate mission critical setups across global time zones and want to scale their business as fast as possible, with best-in-class governance and control.”
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi’s platform manages more than $15 billion in assets and has generated hundreds of millions in interest for clients. The company, headquartered in New Jersey with offices around the globe, continues to expand its presence in the United States and internationally.
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