Bitbond Smart Contracts May Be Used to Manage Digital Tokens Directly via Fireblocks Console

Tokenization projects are making considerable strides in financial markets, and beyond, by making financial and real world assets a lot more accessible, according to an update from Fireblocks. As the market evolves, institutions require a secure as well as scalable solution that they are able to build and deploy, the Fireblocks team note.d

In September of last year, Fireblocks enhanced its tokenization capabilities with the acquisition of BlockFold, to offer a service layer of advisory, token customization, orchestration, as well as distribution.

Realizing the significance of “trusted” tokenization partners, Fireblocks also formed an open tokenization marketplace in order to address requirements in a fast-evolving market.

One of Fireblock’s tokenization partners to join the marketplace is Bitbond, a provider of enterprise tokenization tech that provides its services to banks, asset managers, as well as fintechs.

Token Tool, Bitbond’s web3-based tokenization app, allows token creators to seamlessly issue, manage, and distribute tokens as well as non-fungible tokens (NFTs) across Ethereum Virtual Machine (EVM)-compatible blockchains.

Fireblocks reveals in a blog post that they’ve deepened their partnership to enable Fireblocks customers to deploy, manage, and secure tokens from Bitbond smart contracts directly via their Fireblocks console.

As explained in the update, this integration is said to be a  testament to Fireblocks’ commitment to ensure that customers benefit from having more options for how they “approach smart contract mechanics to meet their unique requirements.”

Key benefits include the following:

  • Access to Bitbond’s entire suite of smart contracts within Fireblocks Console: A new way to access, deploy and manage BitBond smart contracts, which adhere to open standards and have additional capabilities such as automated settlements, conditional payments, and more, eliminating the need for additional tools.
  • Centralized control via Fireblocks: Consolidate tokenization operations by leveraging Fireblocks to securely deploy and manage securely all Bitbond smart contracts and ensure token issuers maintain control over their digital assets.
  • Granular governance and approval rules: Fireblocks’ Transaction Authorization Platform (TAP) empowers businesses to define granular access controls and approval workflows for all tokenization operations, ensuring every transaction and deployment is fully compliant and secure.
  • Available on any EVM-compatible chain supported by Fireblocks: Bitbond smart contracts are made available on Ethereum as well as other popular EVM networks.
  • Integration available via Fireblocks UI and API: Manage tokenization needs through the user-friendly Fireblocks console or integrate the functionality into existing systems via the API, providing flexibility in how customers use the platform.

The Fireblocks and Bitbond integration reportedly allows institutions to take advantage of the “next wave” of tokenization opportunities.By combining “secure” key storage with smart contracts, this solution simplifies the tokenization process and taps the potential of this transformative technology. Institutions in need of a tokenization solution are now able to leverage the   solution powered by Fireblocks in collaboration with Bitbond.



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