Fireblocks Expands DeFi Capabilities with Token Swaps and Allowance Manager
Fireblocks, a leading enterprise digital assets platform, has recently announced the expansion of its decentralized finance (DeFi) capabilities by introducing support for token swaps and an allowance manager.
The announcement was made by the Fireblocks team on Dec. 4, during their annual user conference, SPARK. This expansion comes at a time when there has been a significant increase in activity on the Fireblocks platform over the past year.
With the introduction of token swaps and the allowance manager, Fireblocks aims to provide key security features for projects looking to enhance customer security while interacting with popular DeFi applications like Aave and Uniswap.
Fireblocks Swaps
One of the new features, Fireblocks Swaps, allows users to exchange tokens via the Uniswap API directly within the Fireblocks console. This eliminates the need to transfer funds or manage exchange accounts, providing a streamlined workflow for users. Joaquîn Herrera, chief operating officer and founder of Takenos, praised the feature, stating that it helps keep their focus on growing their business.
Token Allowance Manager
Another new tool introduced by Fireblocks is the Token Allowance Manager, which provides visibility for token allowances. This feature allows users to mitigate risks associated with malicious smart contracts. Initially available for Ethereum users, the Token Allowance Manager aims to enhance security for DeFi participants.
In addition to these new capabilities, Fireblocks has been expanding its presence in the digital assets space. Earlier in the year, the platform launched its blockchain startup toolkit, offering self-custody solutions and private key management for projects. Fireblocks has also integrated with various crypto and mainstream providers, including partnerships with Immutable and Chainlink Labs.
Overall, Fireblocks’ latest DeFi capabilities are designed to provide a secure and efficient experience for users interacting with decentralized finance applications. With the introduction of token swaps and the Token Allowance Manager, Fireblocks continues to innovate and enhance its offerings in the digital assets space.