Enterprise crypto custody firm Fireblocks integrates Tokeny for token minting
Enterprise cryptocurrency custody firm Fireblocks is set to offer token minting services through a new integration with Ethereum- and Polygon-friendly platform Tokeny.
The new feature allows businesses and retail customers to mint and manage permissioned tokens, digital securities, stablecoins and loyalty programs across various trading applications, payment networks and digital banks. Fireblocks and Tokeny make use of ERC-3643 security tokens deployed on the Ethereum and Polygon blockchains.
Fireblocks provides an enterprise solution for moving, storing and issuing digital assets to exchanges, lending desks, custodians, banks, trading desks and hedge funds. Fireblocks' technology is used by more than 1,300 financial institutions, and the company claims to have processed more than $3 trillion in digital asset transfers to date. The latest integration offers institutional-grade users the ability to mint and manage their tokens along with managing conventional cryptocurrency portfolios.
Related: Fireblocks acquires stablecoin payments platform First Digital
The company was founded in 2019 by three cyber security experts that had investigated a series of hacks on South Korean exchanges conducted by the Lazarus Group for Check Point Research. The trio formed Fireblocks as a a secure platform for financial institutions to protect digital assets from online threats using MPC technology to secure private keys and API credentials.
The company is considered a cryptocurrency unicorn, having raised well in excess of $500 million in the three years since its inception. Its list of corporate users includes cryptocurrency exchanges, hedge funds, market makers and over-the-counter trading desks like BlockFi, eToro, Galaxy Digital, Celsius
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