Fireblocks, a leading digital assets platform, has expanded its decentralized finance (DeFi) capabilities, introducing support for token swaps and an allowance manager.

Enhanced DeFi Capabilities

The new development was announced on December 4, highlighting the significant spike in activity on the Fireblocks platform over the past year. Idan Ofrat, Fireblocks’ chief product officer, unveiled the two DeFi capabilities during SPARK, the company’s annual user conference.

The introduction of token swaps and the allowance manager brings key safeguards for projects looking to enhance customer security as they interact with top DeFi applications.

Token Swaps and Allowance Manager

With Fireblocks Swaps, users can exchange tokens via the Uniswap API directly within the Fireblocks console. This streamlined process eliminates the need to transfer funds or manage exchange accounts, allowing users to focus on growing their business.

“By eliminating the need to transfer funds or manage exchange accounts, Fireblocks streamlines our workflow and keeps our focus where it matters—growing our business.”

The Fireblocks Token Allowance Manager enables visibility for token allowances, allowing users to mitigate risks associated with malicious smart contracts. Initially, support will be available for Ethereum users.

Continued Expansion

The rollout of these new tools coincides with Fireblocks’ continued expansion across the digital assets space. Some notable developments include:

  • Introducing a blockchain startup toolkit in July, offering a streamlined path for projects to benefit from self-custody, private key management, and other features.
  • Integrating with multiple crypto and mainstream providers, including Immutable and Chainlink Labs.
  • Launching a non-custodial wallet-as-a-service in September 2023.

These developments demonstrate Fireblocks’ commitment to enhancing its platform and expanding its reach in the digital assets space.

Stay up-to-date with the latest news and developments in the world of cryptocurrencies and finance on Global Crypto News.

Post Views: 3