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Friktion Establishes Strategic Partnership with Fireblocks

Navigasi - Friktion, a portfolio management platform in the Solana ecosystem, has just made access for institutions to the realm of decentralized finance (DeFi) through Fireblocks.

Friktion Establishes Strategic Partnership with Fireblocks
Friktion Establishes Strategic Partnership with Fireblocks

Fireblocks CEO, Michael Shaulov, said that this collaboration has succeeded in connecting more than 1,3000 Fireblocks clients to Friktion Volts.

"Institutional interest in DeFi seems to continue to grow, especially in well-known blockchain ecosystems such as Solana. Fireblocks' DeFi Suite offers investors the highest security when using applications in the Solana ecosystem especially when using Friktion, one of the first applications in the Solana ecosystem," said Shaulov, in a statement. official, Saturday (10/9/2022).

According to Shaulov, the opportunities that exist in the DeFi sector have made the industry more attractive, especially for institutional investors. Moreover, several large companies have also taken advantage of this opportunity.

"For example, Goldman Sachs, which re-opened crypto trading activities, Bridgewater Associates, which supports crypto-managed funds, and BlackRock, which launched the first private bitcoin spot mutual fund in the United States," he said.

Meanwhile, the CEO of Friktion Labs, Uddhav Marwaha, said, "Friktion is currently available to institutions seeking profit in the DeFi sector.

"Through the integration with Fireblocks, we are giving access to a portfolio management platform to many companies and businesses that need a secure and tested platform when managing digital assets," he explained.

According to Marwaha, transparency, benefits with measurable risks, and security are the main keys for institutions to enter the DeFi sector.

"Fireblocks provides the keystone to the robust infrastructure that supports Friktion in providing a profitable DeFi platform for institutional investors," he concluded.