Fireblocks, a crypto custody service provider, is expanding its services with the launch of an institutional suite of Web3 services. This suite will allow customers to leverage liquidity from different exchanges, and mint NFTs. The service, which has already onboarded several names in the industry, also includes gaming asset management for blockchain games on Ethereum and other smart contracts-enabled blockchains.
Fireblocks Debuts Web3 Services Offering
Fireblocks, a cryptocurrency custody company, is seeking to expand its suite of services to onboard different kinds of customers. The company announced the release of its new Web3 suite, which will offer new capabilities to customers in the decentralized finance, NFT, and blockchain gaming areas. The objective of this product is to provide institutional-grade services to companies that are developing solutions in these fields.
According to reports, the company has already onboarded several companies to the service, including Animoca Brands, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius, and Utopia Labs. These partners and others will have access to the liquidity offered in decentralized finance exchanges and NTF markets like OpenSea, Rarible, Uniswap, and Dydx directly.
The suite had some time in development, and the company gave an early peek at these services, adding support for decentralized finance apps on top of the now-defunct Terra blockchain, that at the time was the second largest protocol in terms of assets locked. Now, the full suite offers support for these services on 35 different blockchains, including EVM and non EVM projects.
Expanding to New Fields
While the company already has a massive portfolio of customers, which includes 1,200 different institutions — having secured more than $2.5 trillion in digital assets — the release of these services aims to access a field of customers that Fireblocks would be unable to reach otherwise.
Fireblocks’ CEO and co-founder Michael Shaulov declared:
The goal is to essentially bring all the security arsenal and capabilities that we’ve built for empowering financial firms to operate with crypto to this new group of players.
The company had previously remarked on the importance of play-to-earn, one of the fields that this suite seeks to serve, for the future of the gaming industry. In a blog post published on May 4, Fireblocks stated:
The next generation of gaming will likely involve NFTs and crypto on some level – the question is when and how, not if.
What do you think about Fireblocks’ new Web3 suite of products? Tell us in the comments section below.