Fireblocks Expands Its Blockchain Support with Tezos Integration September 28, 2023 September 28, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 28, 2023 by Kelly Cromley

Fireblocks Expands Its Blockchain Support with Tezos Integration

Enhancing Institutional Access to Tezos Blockchain and Web3 Ecosystem


Fireblocks has made a significant announcement regarding its latest venture, the comprehensive support for Tezos, a public blockchain renowned for its scalability and energy efficiency. With this development, Fireblocks has paved the way for its customers to securely manage tokens conforming to the FA1.2 and FA2 standards on the Tezos blockchain. Additionally, Fireblocks customers can harness the power of Fireblocks’ Web3 Engine to explore innovative product and service possibilities within the Tezos ecosystem.


Tezos at the Forefront


This strategic collaboration elevates Tezos to a prominent position within the institutional digital asset transfer network. Fireblocks’ commitment to providing a secure and efficient environment for managing Tezos assets underscores the platform’s significance in the evolving landscape of Decentralized Finance (DeFi) and Web3 applications.


A Perspective on the Integration


Michael Mendes, Head of DeFi Partnerships at Trilitech, a London-based adoption hub for the Tezos blockchain, expressed his views on this integration. He emphasized Fireblocks’ expertise in enterprise-grade non-custodial solutions and infrastructure. According to Mendes, this integration simplifies access to Tezos decentralized applications (dApps) and tokens for institutional players. It also facilitates projects utilizing the Fireblocks stack to deploy on Tezos with minimal effort.


Tezos’ Remarkable Growth


Tezos has witnessed impressive growth in recent times, both in terms of its DeFi ecosystem and its market capitalization. The total value locked in Tezos’ DeFi protocols has doubled in the past year, while the market cap has surged by over 55%. Notably, the Tezos blockchain has achieved a significant milestone by surpassing one million transactions per second. This accomplishment follows network upgrades and concerted efforts to enhance Smart Rollups’ scalability.


The Tezos ecosystem has garnered the attention of numerous projects, including well-known brands such as McLaren Racing, Ubisoft, and Manchester United, who have chosen to build within the Tezos ecosystem. These developments highlight the blockchain’s growing relevance and appeal across various industries.


Fireblocks’ Commitment to Web3 and DeFi Innovation


Omer Amsel, Head of Web3 at Fireblocks, emphasized the company’s dedication to supporting blockchain developers and fostering innovation within the realms of DeFi and Web3. By incorporating Tezos support into the Fireblocks ecosystem, the platform strengthens its commitment to enabling the creation of new products and services harnessing blockchain technology’s potential. This integration provides customers and developers with enhanced opportunities to actively engage with the Tezos blockchain.


Key Features of Fireblocks’ Tezos Support


Fireblocks’ support for Tezos offers several noteworthy features:


Access to MPC-CMP Custody Technology: Institutional users gain access to industry-leading Multi-Party Computation – Collaborative Multi-Party (MPC-CMP) custody technology.

Blockchain Network Connectivity: Users can seamlessly connect across major blockchain networks directly through the Fireblocks console.

Web3 Engine: The Fireblocks Web3 engine empowers users to create, secure, and manage a wide array of Web3 applications, games, and experiences.

Streamlined Smart Contract Development: The platform simplifies the development and operation of smart contracts and Web3 treasury, facilitating the creation of direct custody wallets for end-users while ensuring the secure management of smart contract operations.

In conclusion, Fireblocks’ integration with Tezos represents a significant advancement in the world of blockchain technology. By offering comprehensive support for Tezos, Fireblocks expands the horizons of institutional access to the Tezos blockchain and the Web3 ecosystem. This collaboration underscores the ever-growing role of blockchain in institutional finance and opens doors to a world of innovation and possibilities within the Tezos ecosystem.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.