Fireblocks has added Solana compatibility, allowing its countless users to use the developer channel’s services and infrastructure.
Starting on Tuesday, Fireblocks customers will have direct exposure to Solana’s numerous decentralized finance (DeFi) and Web3 services, which the firm claims will help “alternative asset managers” and “capital market users.”
Solana will be integrated through Fireblocks’ Web3 Engine, a set of tools for builders working in the DeFi, GameFi, and NFT areas. The Fireblocks Web3 Engine was introduced in May this year. According to Fireblocks CEO Michael Shaulov, his firm’s Web3 suite provides Solana network builders with increased security while designing applications.
Solana has been the victim of many highly secure hacks this year, the most recent being an $8 million attack that exposed 7,000 network wallets.
Solana has prioritized decentralized finance in its network growth plan, recently announcing a $100 million investment to help DeFi entrepreneurs in South Korea through its venture division. DeFi Llama says the Solana network has 77 active DeFi technologies with a total value locked (TVL) of $1.43 billion. Solana is the 6th biggest DeFi chain in regards to cumulative TVL.
Fireblocks took advantage of the cryptocurrency bullish trend to emerge as one of the top powerful blockchain firms. The firm finished a $550 million Series E investment round in February this year, valued at $8 billion. The following month, it paid a reported $100 million for stablecoin transactions provider First Digital.