Fireblocks, an enterprise-ready digital assets platform, has expanded its suite of decentralized finance capabilities, introducing support for token swaps and an allocations manager.
The Fireblocks team shared the new development on December 4, noting that the DeFi expansion comes amid a significant spike in activity on its platform over the past year. Idan Ofrat, Chief Product Officer of Fireblocks, revealed the two DeFi capabilities at SPARK, the company’s annual user conference.
Token Swaps and Allocation Manager provide key safeguards for projects seeking to improve customer security when interacting with leading DeFi applications, including Aave (AAVE) and Uniswap (UNI).
With Fireblocks Swaps, users can swap tokens via the Uniswap API directly in the Fireblocks console.
“By eliminating the need to transfer funds or manage exchange accounts, Fireblocks streamlines our workflow and allows us to focus where it matters: growing our business,” said Joaquîn Herrera, Chief Operating Officer and founder of Takenos.
Meanwhile, the Fireblocks Token Allowance Manager allows visibility into token allocations, allowing users to mitigate risks associated with malicious smart contracts. Support will initially be available to Ethereum users.
The rollout of these new tools coincides with Fireblocks’ continued expansion into the digital assets space. In July, the platform unveiled its blockchain startup toolkit, providing a simplified path for projects to benefit from self-custody, private key management and other features.
Fireblocks has also integrated with several crypto and consumer providers.
In August, it announced an integration with gaming platform Immutable and in September, it formed a strategic alliance with Chainlink Labs to provide banks with access to regulated stablecoin issuance and management technology.
The platform launched its wallet as a non-custodial service in September 2023.
