Home Blockchain Tezos Goes Live on Fireblocks, Expanding Institutional Access to Growing DeFi and Web3 Ecosystem

Tezos Goes Live on Fireblocks, Expanding Institutional Access to Growing DeFi and Web3 Ecosystem

by Sophie Smith

Fireblocks, a platform that provides a secure infrastructure for digital assets, has announced the launch of full support for Tezos, a scalable and energy-efficient public blockchain. This move enables Fireblocks customers to securely custody FA1.2 and FA2 token standards on Tezos and utilize Fireblocks’ Web3 Engine to build new products and services on the Tezos blockchain.

With the integration of Tezos into the Fireblocks ecosystem, thousands of digital asset and crypto capital market participants can now securely custody Tezos assets from their Fireblocks Wallet. Furthermore, they can connect to Tezos’ fast-growing ecosystem of Decentralized Finance (DeFi) and Web3 apps.

The addition of Tezos support by Fireblocks not only expands institutional access to the Tezos ecosystem but also enables secure development of Tezos-based products and services using the Fireblocks Web3 Engine. This integration will facilitate the deployment of projects that utilize the Fireblocks stack on Tezos with minimal effort.

Michael Mendes, head of DeFi partnerships at Trilitech, a London-based adoption hub for the Tezos blockchain, acknowledged Fireblocks’ expertise in enterprise-grade non-custodial and infrastructure solutions. He emphasized that this integration paves the way for institutional players to access Tezos dApps and tokens, and opens up opportunities for projects utilizing the Fireblocks stack to easily deploy on Tezos.

According to Messari, Tezos’ DeFi protocols have experienced a doubling of the total value locked (TVL) in the past year, alongside a 55% growth in market capitalization. The Tezos blockchain has recently undergone network upgrades to enhance scalability, surpassing one million transactions per second. It is home to hundreds of dApps and web3 projects, attracting brands like McLaren Racing, Ubisoft, and Manchester United.

Omer Amsel, Head of Web3 at Fireblocks, expressed their commitment to supporting the blockchain developer community and fostering innovation in DeFi and Web3. By adding Tezos support, Fireblocks aims to enable new products and services that leverage the power of blockchain technology. They look forward to unlocking new opportunities for customers and developers to engage with the Tezos blockchain.

Through Fireblocks, institutional customers and developers can access industry-leading MPC-CMP custody technology, connect across major blockchain networks, and leverage the Web3 engine to build, secure, and manage Web3 applications, games, and experiences. The Web3 Engine serves as a single platform for managing Web3 treasury and internal wallets, facilitating the creation of direct-custody wallets for end-users, and securely managing smart contract development and operations.

Tezos is an open-source project and a scalable, energy-efficient, public blockchain. It provides a platform for assets and applications, empowering builders, developers, and businesses to deploy applications at low cost. Supported by a global peer-to-peer network, Tezos offers long-term upgradability, open participation, and smart contract safety. Its thriving community consists of artists, scientists, developers, and others seeking to create and transfer value seamlessly in a digital-centric world.

Fireblocks, on the other hand, is an enterprise-grade platform that offers secure infrastructure for moving, storing, and issuing digital assets. It enables financial institutions and businesses to scale their digital asset operations securely through the Fireblocks Network and MPC-based Wallet Infrastructure. With its unique insurance policy and track record of securing over $4 trillion in digital assets, Fireblocks has become a favored solution for trading desks, custodians, banks, and other financial institutions.

The integration of Tezos into the Fireblocks platform is a significant step towards expanding institutional access to the growing DeFi and Web3 ecosystem. It ensures the security and accessibility of Tezos assets for institutional players while providing developers with a trusted and efficient solution for building on the Tezos blockchain.

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