Fireblocks Enhances Compatibility with Decentralized Finance Platforms
Introducing Fireblocks Swaps and Token Allowance Manager
Enterprise-grade digital asset platform Fireblocks has announced the launch of two new features: Fireblocks Swaps and Fireblocks Token Allowance Manager. These features are designed to enhance compatibility with decentralized finance (DeFi) platforms like Uniswap and Aave, making it easier for institutional clients to participate in decentralized exchange trading and access DeFi protocols.
Fireblocks Swaps: Simplifying Decentralized Exchange Trading
The Fireblocks Swaps feature allows users to access liquidity from the Uniswap API directly within the Fireblocks console. This means that institutions can now trade on decentralized exchanges without having to manage external accounts, streamlining the process and reducing complexity.
Key Benefits of Fireblocks Swaps
- Simplified trading experience: With Fireblocks Swaps, users can access liquidity from the Uniswap API directly within the Fireblocks console, eliminating the need for external account management.
- Increased efficiency: By integrating with Uniswap, Fireblocks enables institutions to trade on decentralized exchanges with ease, reducing the time and effort required for trading activities.
- Improved security: The feature ensures that users have full control over their assets, maintaining a secure environment for trading.
Fireblocks Token Allowance Manager: Enhanced Security and Control
The Fireblocks Token Allowance Manager allows clients to manage balances across wallets, giving users the option to revoke malicious smart contracts on Ethereum. This feature eliminates the need to manage external accounts, further simplifying the process of decentralized exchange trading and access to DeFi protocols for institutional clients.
Key Benefits of Fireblocks Token Allowance Manager
- Enhanced security: The feature enables users to manage balances across wallets, allowing them to revoke malicious smart contracts on Ethereum, ensuring a secure environment for transactions.
- Improved control: By integrating with the Fireblocks console, institutions can have full control over their assets, maintaining a secure and efficient environment for trading.
- Reduced complexity: The feature eliminates the need for external account management, streamlining the process of decentralized exchange trading and access to DeFi protocols.
Fireblocks: A Leader in Digital Asset Solutions
Fireblocks has been steadily releasing features throughout 2024 designed to onboard startups, businesses, and banks to the digital asset space. In July 2024, the enterprise-grade platform announced a Web3 startup toolkit, providing a packaged way for startups to launch their own Web3 projects. The suite of tools included treasury, self-custody, and private key management options.
Recent Developments in Digital Asset Solutions
- Web3 Startup Toolkit: Fireblocks launched a suite of tools designed to help startups launch their own Web3 projects, featuring treasury, self-custody, and private key management options.
- New York State Charter: The firm secured a New York state charter from the New York Department of Financial Services in August, allowing it to provide custodial services to clients in the United States.
- Immutable Integration: Immutable, a layer-2 gaming blockchain built on top of the Ethereum network, integrated Fireblocks into its services, providing game developers with a solution to store and manage in-game digital assets like non-fungible tokens (NFTs).
- Value-Added Tax (VAT) Tokenization: In November, Fireblocks began exploring VAT tokenization with the South Korean NongHyup Bank, leveraging the Fireblocks Tokenization Engine to refund the VAT on retail purchases.
Conclusion
Fireblocks continues to innovate and expand its digital asset solutions, enhancing compatibility with decentralized finance platforms like Uniswap and Aave. The launch of Fireblocks Swaps and Fireblocks Token Allowance Manager further solidifies Fireblocks’ position as a leader in digital asset solutions, providing institutions with the tools they need to participate in decentralized exchange trading and access DeFi protocols with ease.
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- Fireblocks Simplifies Web3 Onboarding for Institutional Clients: The firm has released features designed to onboard startups, businesses, and banks to the digital asset space.
- DeFi and Ethereum are the ‘New Narrative’: Michaël van de Poppe, X Hall of Flame: Explore more articles like this by subscribing to the Finance Redefined newsletter.
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