Fireblocks Co-Founder (from left to right): Idan Ofrat, CTO; Michael Shaulov CEO; Pavel Berengoltz, Vice President of R & D
Fire block
Fireblocks, a blockchain infrastructure provider, has launched a suite of developer tools and portals for customers to access cryptocurrency exchanges, NFT marketplaces and other decentralized applications across multiple networks.
Only apparently Forbes, These features are part of the company’s new product, called the Web3 engine, as well as storage services, financial management, risk mitigation tools, and tokenization mechanisms for managing NFT whitelists, mint, writes, and transfers. It contains. In addition, you will be able to access platforms such as OpenSea, Rarible, Uniswap, and dYdX directly from the Fireblocks console.
The company has already hired several well-known clients for this service. Among them are Animoca Brands, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius and Utopia Labs.
“The goal is basically to bring to this new group of players all the security weapons and features that financial companies have built to enable them to operate in cryptocurrencies,” said Fireblocks CEO and co-founder. Michael Shaulov says.
The New York-based startup serves approximately 1,200 institutions, including exchanges, banks, lending and trading desks, and hedge funds, helping to transfer, store, and issue cryptocurrencies. Fireblocks claims to have secured a transfer of over $ 2.5 trillion in digital assets.
However, the scope of its services is expanding beyond institutional management. Last month, the company partnered with FIS, a publicly traded $ 62 billion fintech company that provides everything from payment services to wealth management, crypto trading and lending to clients in FIS’s more than 6,000 capital markets. Provided access to a complete suite of services.
Around the same time, Fireblocks added support for decentralized finance applications (dapps) on the Terra blockchain as part of its early access program to the Web3 engine. The network supports the troubled stablecoin TerraUSD (UST) and its sister token LUNA, both of which collapsed to nearly $ 0 last week.
According to Shaulov, Fireblocks customers have interacted with Terra’s popular dapps such as the rental protocol Anchor, the staking platform Lido, and peer-to-peer exchange Astroport to transfer approximately $ 3 billion in volumes across the platform. But when UST, which was designed to always be worth $ 1, lost a peg, Fireblocks primarily saw “essentially speculative trading activity because people were trying to hedge or take advantage of the situation.” rice field. He emphasizes that Terra is ultimately just one of the more than 35 networks supported by Fireblocks’ Web3 engine (others include popular networks such as Ethereum, Solana and Avalanche). increase).
This engine is the latest product to provide users with a gateway for easy interaction with the $ 90 billion DeFi industry. Yesterday, the cryptocurrency exchange Coinbase introduced similar functionality to retail users, allowing them to access Ethereum-based applications directly from the Coinbase app. This includes buying NFTs on marketplaces such as Coinbase NFT and OpenSea, trading on decentralized exchanges such as Uniswap and Sushiswap, and borrowing through DeFi platforms such as Curve and Compound.
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