Fireblocks adds Zilliqa’s ZIL tokens to their vault and network

Rick Steves

“We are thrilled to be expanding Fireblocks’ multi-blockchain support to include Zilliqa EVM. Fireblocks supports over 60 blockchains and the leading token standards for Web3 and NFTs, and Zilliqa’s integration presents new opportunities for institutional collaboration that leverages the capabilities of Zilliqa’s ecosystem.”

Fireblocks

Zilliqa has partnered with Fireblocks to allow customers to securely store ZIL tokens in their Fireblocks Vault and conduct transactions on the Fireblocks Network.

The layer-1 blockchain platform that offers native compatibility with Ethereum Virtual Machine (EVM) applications will leverage the integration with Fireblocks to enhance accessibility for users, supporting popular wallets and developer tools, and fostering the development of powerful multi-chain applications.

“We are opening doors for everyone”

Matt Dyer, Chief Executive Officer at Zilliqa, said: “The integration of our network with Fireblocks marks a pivotal moment for Zilliqa, granting institutional and retail investors seamless access to our high-throughput, secure and easy-to-use blockchain network. By working with Fireblocks, we are opening doors for everyone from end-users to financial institutions to explore and invest in the innovative and growing list of opportunities within the Zilliqa ecosystem, further fueling its growth and development.”

Stephen Richardson, Managing Director, Financial Markets, of Fireblocks, commented: “We are thrilled to be expanding Fireblocks’ multi-blockchain support to include Zilliqa EVM. Fireblocks supports over 60 blockchains and the leading token standards for Web3 and NFTs, and Zilliqa’s integration presents new opportunities for institutional collaboration that leverages the capabilities of Zilliqa’s ecosystem.”

The Fireblocks platform is utilized by major financial institutions, cryptocurrency exchanges, and retail payment service providers, such as BNY Mellon, Revolut, Worldpay, eToro, and Galaxy Digital. Operating with multi-party computation (MPC) custody technology, Fireblocks empowers enterprise and institutional clients to securely and efficiently transact digital assets across major blockchain platforms.

Zilliqa’s Web3 ecosystem, specialized in the luxury and entertainment sectors, is expected to benefit from the Fireblocks Non-Custodial Wallet-as-a-Service (WaaS) offering, which delivers a secure and scalable wallet platform for corporates, fintechs and Web3 businesses.

Fireblocks Off Exchange solution available

It was in late 2023 that Fireblocks launched its Off Exchange solution, aimed at mitigating exchange counterparty risk by enabling institutional traders to trade on centralized exchanges from an on-chain MPC shared wallet.

Exchange counterparty risks, such as cyber hacks, bankruptcy, and misappropriation of funds, are a concern in the crypto trading market. Traditional firms often hesitate to enter the crypto market due to these risks.

Fireblocks Off Exchange addresses these issues by using MPC technology, allowing traders to allocate and mirror assets from a mutually controlled wallet. This approach protects assets from various risks while providing centralized exchanges with on-chain transparency.

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