Fireblocks, a cryptocurrency custody firm, has added support for Solana Blockchain’s DeFi, NFT, and gaming apps

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Last Updated on August 30, 2022 by Bitfinsider

Fireblocks, a cryptocurrency custody company, has begun supporting the Solana blockchain’s ecosystem of decentralized finance (DeFi) developers, non-fungible token (NFT) applications, and other Web3 activities, the companies announced on Tuesday.

Despite a bearish climate in crypto markets, Solana has grown at a rapid pace, particularly in areas such as NFTs, where it has recently outpaced Ethereum, according to JP Morgan analysts. While Solana is easily among the top ten blockchains in terms of usage and market capitalization, it is actually the second-largest ecosystem when all Ethereum Virtual Machine (EVM)-compatible blockchains are considered, according to Fireblocks CEO Michael Shaulov.

On the network, Fireblocks previously supported Solana’s native token (SOL) as well as stablecoins such as USDC. Now, the company’s “Web3 Engine” provides Solana users with an enhanced version of the platform’s key-sharding wallet technology.

“It’s a very scalable wallet technology with a wide range of use cases,” Shaulov explained in an interview. “It could be used by an operations team to manage the organization’s treasury, or it could be used for Web3 retail applications, where a game can create wallets for its million users and serve them in a custodial manner, with all the connectivity, controls, and security to mint tokens and NFTs.”

Fireblocks connects to 35 blockchain networks and collaborates with Animoca, MoonPay, Xternity Games, Griffin Gaming, Wirex, and Utopian Game Labs. According to a press release, the latest Solana integration uses WalletConnect V2, a protocol for bridging decentralized apps that has been upgraded to securely enable vault connections to non-EVM chain dApps.

Another important aspect of this integration is that it extends support for the WalletConnect2 protocol throughout the Solana ecosystem,” Shaulov explained. “It’s simply a better, more secure, and scalable way to connect with decentralized applications.” Previously, you had to do all sorts of proprietary, non-scalable solutions.”


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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