Fireblocks integrates Astar Network allowing institutions to tap into DeFi

Astar Network (ASTR) has been integrated into Fireblocks, an enterprise platform for managing digital asset operations and creating cutting-edge businesses on the blockchain.

Following the integration, more than 650 banks and institutional investors can securely access Astar Network’s digital assets, participate in Astar’s DeFi ecosystem, and trade, swap, and lend digital assets on Astar through Fireblocks. Additionally, the institutions will also be able to access leading DeFi protocols on Astar, like ArthSwap.

Fireblocks digital asset infrastructure

Fireblocks has experienced rapid growth in recent years, and thanks to its unwavering dedication to security, it was the first service provider to have the Cryptocurrency Certification Consortium (C4) certify its digital asset infrastructure system. It has gained clients from traditional financial institutions like BNY Mellon (which launched its digital assets custody platform in October 2022), ANZ Bank (ASX: ANZ), and NAB as well as Japanese cryptocurrency exchanges like CoinTrade thanks to its multiparty computation (MPC) technology.

Fireblocks offers a secure infrastructure for transferring, storing, and distributing digital assets. Through the Fireblocks Network and MPC-based Wallet Infrastructure, Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale their operations involving digital assets.

Fireblocks serves thousands of financial institutions, secures the transfer of more than $4 trillion in digital assets, and offers a unique insurance plan that covers assets while they are in storage and transit.

Exuding their excitement in working with Fireblocks, the CEO of Astar Foundation Maarten Henskens said:

“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.”

Astar Network, on the other hand, has quickly become a go-to-market chain in Japan with its support for the popular EVM environment, as well as the addition of WebAssembly WASM, and the interoperability between the two using a Cross-Virtual Machine.

Celebrating the Astar Network integration

Over 200 guests attended a special event held by Astar, Fireblocks, and bitbank to commemorate the integration during WebX in Tokyo that focused on understanding Web3 technology in the business world.

Global enterprise executives, web3 founders, and VCs gathered to network and have enlightening conversations about how to start using decentralised protocols and networks powered by blockchain technology to transform business models. Executives from many Japanese companies experienced the Fireblocks platform on the Astar Network for the first time, learning how to use DeFi technology safely for the first time.