Fireblocks, a platform that meets the needs of financial institutions in areas such as crypto storage and payment, announced today that it provides full support for the Tezos network.
Crypto Platform Fireblocks Expands Enterprise Access to Tezos
The expansion follows Tezos' “Mumbai” upgrade earlier this year. Those using Fireblocks Wallet will be able to store Tezos-based assets and benefit from a list of decentralized applications.
At the same time, developers will be able to leverage Fireblock's Web3 engine to securely build products and services on Tezos, according to the company.
Giving Fireblocks customers access to Tezos could be a huge advantage for the network in terms of DeFi activity.
According to data aggregator DeFiLlama, Tezos' total value locked (TVL) is close to $49 million, ranking it 29th among all protocols.
For example, Tezos' TVL, which represents how much money is locked in smart contracts on the network for a decentralized exchange or lending service, increased by nearly $10 million last year. Tezos' TVL reached $217 million in 2021.
Fireblocks' offering paves the way for more institutions to dip their toes into Tezos' ecosystem, Michael Mendes, head of DeFi at TriliTech, a research and development firm focused on Tezos, told Decrypt.
He highlighted Fireblocks' unrivaled expertise in storage and infrastructure.
*This is not investment advice.
