DeFi

Fireblocks adds DeFi access for institutions to Avalanche and Fantom

Fireblocks adds DeFi access to Avalanche and Fantom for institutions

Digital asset platform Fireblocks has unveiled support for the Avalanche and Fantom blockchains as part of its ‘7 days of DeFi’ event to bolster security, access and connectivity to DeFi for financial institutions.

The first addition to its expansive platform, which supports more than 25 of the leading blockchains and protocols in the crypto industry, was Avalanche.

Through the integration, institutional customers of Fireblocks can now access Avalanche’s C-chain network to “custody and transfer the AVAX native token without jeopardising efficiency or security”.

The support will include various leading projects on Avalanche including popular DEXs Trader Joe and Pangolin, alongside lending and borrowing platform Aave.

Fireblocks then added “expanded DeFi capabilities” for Fantom, the Layer-1 blockchain designed to “improve upon Ethereum’s scalability issues”.

Customers on Fireblocks can now access popular DeFi apps on Fantom such as SpookySwap, TombFinance and Yearn using the platform.

Fireblocks also hinted at the next addition in a cryptic tweet that suggests the platform is introducing Layer-2 support through a rollup or ZK solution like Abritrum or ZKSync.

The institutionally-focused asset manager secures more than $125Bn in digital assets via its software and APIs to custody, manage treasury operations, access DeFi and enable the minting and burning of tokens,

Sean Dickens

An avid advocate of DeFi, Sean has been in the industry since 2017, studying the latest trends writing about cryptocurrencies. He studied Journalism and Media at Birkbeck University and now writes for Coin Rivet while being an active member of various communities in the crypto space - particularly NFTs.