Fireblocks integrates peaq

In a nutshell: Fireblocks — an enterprise-grade platform for managing digital asset operations and building businesses on the blockchain — has integrated peaq, allowing institutional players to securely manage and store $PEAQ and other peaq-native assets. This integration will make the peaq ecosystem more accessible to enterprises, government agencies, and other types of institutions. It is also set to expand the reach of peaq and all of its DePINs to a wider network of potential users and investors, paving the way to institutional DePIN adoption — an important component of the sector’s long-term success. 

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Institutional-grade security on peaq

By now, we all know that DePINs enable anyone to earn rewards from providing services that have long been the domain of Web2 giants. Crowdsourced data, energy, connectivity, you know the drill. But these rewards have to come from somewhere: Someone has to buy that data, use that power, hook up to that decentralized connectivity network. In other words, someone has to use the DePINs and pay for their services. And more often than not, this someone would have to be an institutional player, from enterprise-grade companies to research bodies and government agencies. And before diving into the space, these types of entities usually want something more secure than your run-off-the-mill browser extension crypto wallet. They want institutional-grade security, a Web3 rendition of an ultra-secure bank vault.

Meet Fireblocks, a leading enterprise-grade platform for managing digital asset operations and building businesses on the blockchain, which has just integrated peaq. This integration will allow Fireblocks customers to hold and manage not only the $PEAQ token, but also any other asset native to peaq, including the tokens of any DePINs launching natively on peaq. In short, investors and institutions will be able to safely manage and store their $PEAQ and other peaq-native assets, which makes the DePIN sector a lot more accessible to them.

Fireblocks provides a secure infrastructure for moving, storing, and issuing digital assets, helping institutions and enterprises securely scale their digital asset operations via the Fireblocks Network and MPC-based wallet infrastructure:

• The Fireblocks Network is the industry’s largest digital asset network which facilitates rapid digital asset transactions and dynamic payment workflows, allowing Network participants to connect and trade with thousands of liquidity partners, trading venues, and counterparties. In the last 90 days, the Fireblocks Network facilitated over $200 billion in transactions between institutional traders and over 30 connected exchanges. 

• Fireblocks’ Wallets-as-a-Service (WaaS) taps multi-party computation (MPC) technology to help businesses create, manage, and secure wallets at scale, allowing businesses to securely custody their customers’ digital assets with its Direct Custody WaaS, or providing customers with full control of their keys via its Embedded Wallets.. 

Fireblocks serves thousands of organizations in the financial, payments, and Web3 space, has secured the transfer of over $6 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit.

The Fireblocks integration is huge news for the peaq ecosystem and creates a direct link between all DePINs building on peaq and thousands of Web3-friendly institutions. It allows anyone who’s not Web3-native to easily interact with peaq and its DePINs. And it introduces peaq’s ecosystem to an entirely new network of potential users and investors. 

“Institutional adoption is crucial for DePIN to live up to its full potential, as institutional actors will ultimately make up much of the demand side. With the peaq integration, Fireblocks’ institutional customers can join the Economy of Things on peaq. It helps further establish peaq as the home of DePIN, expanding peaq’s existing vast network of enterprise collaborations.”

— Leonard Dorlöchter, Co-founder of peaq

"Fireblocks has consistently led the way in providing the most extensive range of blockchain support. With a growing list of over 60 supported blockchains, Fireblocks enables our customers to securely custody tokens on the latest chains and quickly build innovative services for their customers. By integrating peaq, institutions will be able to access the growing DePIN ecosystem, which bridges physical infrastructure with blockchain technology. "

— Stephen Richardson, Managing Director, Financial Markets at Fireblocks

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