Digital asset child custody platform Fireblocks has launched support for Solana, giving its a large number of users accessibility developer network’s applications and infrastructure.
Beginning Tuesday, Fireblocks users may have immediate access to Solana’s various decentralized finance (DeFi) and Web3 applications — moving the organization states will directly benefit “alternative asset managers” and “capital market participants.”
“Thousands of companies use Fireblocks to gain access to novel Web3 services and products,” Solana co-founder Anatoly Yakovenko stated inside a statement. “Starting today, these companies will immediately have the depth and breadth from the Solana ecosystem.”
The Solana integration can come via Fireblocks’ Web3 Engine, a collection of tools created for developers building within the DeFi, GameFi and nonfungible token spaces. As Cointelegraph reported, Fireblocks Web3 Engine premiered in May of the year. Fireblocks Chief executive officer Michael Shaulov stated his company’s Web3 suite offers Solana ecosystem developers a greater degree of security when developing products.
Solana continues to be exposed to many high-profile security breaches this season — the most recent as being a hack that compromised 7,000 ecosystem wallets towards the tune of $8 million.
Related: Crypto child custody tech provider Fireblocks integrates Tokeny for token minting
Solana has put decentralized finance near the middle of its ecosystem development strategy, using its venture arm lately launching a $100 million fund to aid DeFi startups in Columbia. Presently, the Solana ecosystem hosts 77 active DeFi protocols having a total value locked (TVL) of $1.43 billion, according to DeFi Llama. When it comes to overall TVL, Solana may be the sixth largest DeFi chain.
Fireblocks used the crypto bull sell to become certainly one of blockchain’s best companies. In Feb of the year, the organization closed a $550 million Series E funding round in a valuation of $8 billion. Later, it acquired stablecoin payments platform First Digital for any reported $100 million.
