Fireblocks and Friktion Launching Institutional DeFi Partnership

Fireblocks and Friktion Launching Institutional DeFi Partnership

Friktion Labs recently announced a DeFi-based partnership with Fireblocks. The collaboration will see institutions connect to Friktion directly from the Fireblocks platform.

As Solana’s renowned portfolio management platform, Friktion allows institutional access to decentralized finance via Fireblocks. It currently helps 1,300+ institution-grade clients with its award-winning crypto technology and digital asset platform.

The announcement marks a key benchmark for Friktion Institutional, a division designed to focus on scaling DeFi products offered to asset managers, DAOs, and treasuries. With over 17,000 users and 2.5 billion dollars in sales volume, Friktion has amassed 40 million dollars in TVL (Total Value Locked) via 25+ assets.

Michael Shaulov, Fireblocks’ CEO, talked about the collaboration. According to Michael, the institutional appetite for decentralized finance is gradually growing in ecosystems such as Solana.

Fireblocks’ DeFi solutions provide investors with high-quality security while accessing Solana’s apps. In such cases, Friktion stands as one of the most popular Solana dApps, added Michael.

The DeFi market is filled with opportunities, making it a multi-billion-dollar sector. With more institutional investors entering the market, even Goldman Sachs has reopened its crypto trading desk.

Similarly, Bridgewater Associates are backing their cryptocurrency fund while BlackRock is releasing its spot BTC private trust for US-based customers. Friktion is currently available to institutional users looking to gain real yields in DeFi. 

With the Fireblocks integration, the Friktion team is helping thousands of businesses, foundations, and funds access portfolio management services. Such ventures are in dire need of tried and tested security solutions for their virtual assets. 

Most institutions use custom integrations, browser-based apps, or hardware wallets to access DeFi protocols. However, the methods lead to limitations, like:-

  • Exposed private keys
  • No audit trail
  • Operational challenges

Fireblocks mitigate these risks by providing enterprise-grade efficiency, scalability, and security solutions. Both platforms are creating immense buzz across the market, making the collaboration highly popular.

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