Fireblocks, an all-in-one platform for building digital asset businesses, is now adding support to the RSK blockchain network. This would allow more than 700 financial institutions around the world to have access to the RSK blockchain. With greater access to RSK functionality companies will be able to build a wide range of decentralized applications (dApps) secured by Bitcoin’s hash rate.
Fireblocks Adds RSK Support
Fireblocks is now allowing banks and traditional financial institutions the ability to develop advanced decentralized financial applications on top of the RSK blockchain network. This means firms will be able to deploy custody, tokenization, asset management, lending and payment solutions using RSK, the most secure smart contract network in the market.
By making it easier for companies to create and deploy their solutions on top of some of the most advanced blockchain networks in the market, Fireblocks bridges the gap that exists between traditional finance and the blockchain industry.
Fireblocks clients can now access RSK to custody and transfer the RBTC token for institutional use cases with assurances around the high level of security & efficiency provided by the Fireblocks network to help to continue to address the complex challenges in the regulatory aligned landscape in which they operate. Furthermore, investors would also have access to dApps that run on top of RSK such as Sovryn, Money on Chain, Tropykus and others.
There are three ways in which Fireblocks lets investors use the RSK network. The first one is by using WalletConnet. The second way is through Fireblocks’ DeFi API. Finally, interested parties can use the Fireblocks Network in order to get access to the RSK network and some of the most popular solutions offered by this blockchain network.
With Fireblocks supporting RSK as a blockchain network, financial institutions will be able to get access to secure smart contracts and different capabilities related to DeFi on Bitcoin. They would be able to work with trading, lending, payments, tokenization and custody solutions, among other things.
RSK has been expanding throughout the year. For example, the RSK-integrated Kripton Market company is now ready to work with more than 700 customers in El Salvador to make crypto and Bitcoin payments easier. This increases capital flow from global institutions which translates into more liquidity for the RSK ecosystem and seamless access to several DeFi protocols. This is just another milestone for RSK that continues to grow in the crypto industry.