Institutions can now access the popular altcoin Avalanche (AVAX) through Fireblocks. Banks, hedge funds and financial institutions will now have access to DeFi on Avalanche through Fireblocks. Detail cryptocoin.com‘in.
Institutional access to the Altcoin Project
Fireblocks hopes to help enterprises interact with DeFi on Avalanche without compromising efficiency or security. With this perspective Fireblocks brings institutions Avalanche. Avalanche can be said to be one step closer to attracting institutional acceptance. Fireblocks, a leading crypto custody and settlement solutions provider, has launched a Tier 1 blockchain initiative to help enterprise users access DeFi. Enterprises can now use Avalanche’s infrastructure via Fireblocks’ DeFi API or WalletConnect. This means users can store and transfer AVAX native tokens while taking advantage of the platform’s advanced security procedures.
It will support several of the most active DeFi protocols on Avalanche today, including Fireblocks, Trader Joe, BENQI, Yield Yak, Pangolin, and Wonderland. John Nahas, Vice President of Business Development at Ava Labs, said about the Fireblocks integration:
Avalanche is leading the future of a financial system where users can access both open protocols and compatible products. Firms like Fireblocks provide secure access to this world of DeFi and digital assets demanded by institutions and sophisticated traders.
Fireblocks has become one of the leading companies bridging the gap between traditional finance and cryptocurrency over the past year. In March, the firm completed a funding round led by BNY Mellon, valuing it at over $900 million. Since then, Fireblocks has had several major updates, including partnering with digital payments platform Wirex to launch subprime crypto savings accounts on Ethereum that use yield farming strategies. The company has also integrated the Ethereum sidechain Polygon, which allows its corporate users to access the network’s thriving DeFi ecosystem.
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