Fireblocks Supports ShimmerEVM

Shimmer ·

Institutional Digital Asset Custody on ShimmerEVM Now Available With Fireblocks

TL;DR:
Fireblocks has officially launched support for ShimmerEVM, the EVM-compatible network on Shimmer, the incentivized staging network of IOTA. Fireblocks customers can now custody Shimmer’s native SMR tokens or tokenized assets on ShimmerEVM and initiate transactions on the ShimmerEVM chain directly from the Fireblocks console and API. Next year, Fireblocks will also become available for the upcoming IOTA EVM

Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, has recently announced its integration with ShimmerEVM. This means that its institutional and enterprise users can store and transact SMR tokens and assets on ShimmerEVM via the Fireblocks console and API.

Both Fireblocks and IOTA share a common vision for the future of finance – a world where digital assets are as easy and secure to use as traditional ones. This provides a powerful pathway for the future of on-chain assets, starting with ShimmerEVM’s integration and followed by IOTA EVM in 2024.

Shimmer's popularity continues to rise as it emerges as one of the fastest-growing DeFi ecosystems, enabling horizontally scalable and frictionless decentralized digital economies through the ShimmerEVM, an L2 solution that facilitates smart contract programming on top of the Shimmer network.

About Fireblocks

Fireblocks is an enterprise-grade platform that delivers a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love.

Fireblocks currently supports thousands of tokens and more than 50 protocols. Check out the full list of tokens available on the Fireblocks platform here. This integration also allows ERC20-compatible tokens in the ShimmerEVM network to list on Fireblocks.

Institutional SMR access

Effective immediately, Fireblocks’ institutional and enterprise users can now:

  • Store SMR tokens in their Fireblocks Vault.
  • Securely transfer SMR tokens on the Fireblocks Network.
  • Launch SMR token support for retail customers and users with Fireblocks’ REST API.
  • Use SMR to deploy funds into Web3 markets (eg, DeFi, NFT exchanges, Gaming dApps, and more).

Fireblocks will also become available next year for the IOTA EVM.

According to Dominik Schiener, Co-Founder and Chairman of the IOTA Foundation and Chairman of Tangle Ecosystem Association: “We are excited to collaborate with Fireblocks to provide our users with the highest level of security and compliance. This integration will make it easier for institutional investors and enterprises to adopt and use ShimmerEVM (and IOTA EVM), and will help us bring more digital assets on-chain.”

“We are delighted to integrate ShimmerEVM into the Fireblocks Network, which allows for horizontally scalable, fast, secure, and parallel processing of smart contracts, as well as bridgeless L2 cross-chain value transfers,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks. “Fireblocks’ defense-in-depth architecture ensures a secure environment for the storing, issuing, and transferring of digital assets through the Fireblocks Network, and the integration of ShimmerEVM further underlines Fireblocks’ extensible multi-blockchain support, providing Fireblocks’ institutional clients with access to their high-velocity, plug-and-play smart contract chain.”

In summary, the integration of Fireblocks with ShimmerEVM signifies a crucial step towards advancing digital asset management and blockchain innovation. This collaboration streamlines SMR token storage and transactions for Fireblocks' business users, and as ShimmerEVM gains traction in the DeFi landscape, the integration paves the way for broader on-chain asset adoption.