Fireblocks, an enterprise-grade platform for institutional adoption of digital assets, has integrated with Astar Network, a smart contracts platform compatible with EVM and WebAssembly (Wasm). This integration opens up the possibility for over 650 banks and institutional investors to easily access and manage digital assets on Astar, bringing crypto and DeFi to a wider range of financial institutions.
The collaboration between Fireblocks and Astar aims to boost institutional adoption of decentralized finance (DeFi) on the Astar platform. With Fireblocks’ technology, banks, exchanges, OTCs, and hedge funds can securely and conveniently access and manage their digital assets on Astar. This integration is particularly significant for institutional investors who are looking to enter the world of digital assets and DeFi.
The partnership also allows these institutions to utilize Fireblocks’ MPC-based wallet infrastructure to access assets on Astar, including on the leading Astar-based DeFi protocol, ArthSwap. This integration provides a secure and robust way for institutions to safeguard and invest in digital assets.
One of the key benefits of this integration is the multichain access to decentralized applications (dApps) that Astar offers. With Fireblocks’ integration, users can tap into the dApps available on both the Ethereum and Polkadot ecosystems. This interoperability allows banks and institutional investors to diversify their portfolios and take advantage of the functionality offered by Astar, such as trading, swaps, and lending of digital assets.
The integration was celebrated during the WebX event in Tokyo, which attracted over 200 guests, including executives from global enterprises, venture capitalists, and Web3 founders. The event highlighted the importance of blockchain-powered decentralized protocols and showcased the potential of Astar and Fireblocks in driving institutional adoption of digital assets and DeFi.
Stephen Richardson, Managing Director, Financial Markets, and Head of APAC at Fireblocks, expressed excitement about the integration, stating, “We are excited to add Astar to the Fireblocks Network and support the growth of Japan’s leading smart contract platform.”
Maarten Henskens, CEO of Astar Foundation, also shared his thoughts on the collaboration, saying, “Fireblocks is a leading platform catering to institutional investors. We’re looking forward to leveraging this integration to enhance adoption while giving institutions looking to build on Astar a secure and robust way to safeguard their digital assets.”
The integration between Fireblocks and Astar is a significant step towards wider institutional adoption of digital assets and DeFi. By providing secure and user-friendly access to the Astar platform, more financial institutions can explore and participate in the digital asset ecosystem, bringing the benefits of DeFi to a broader range of users.