Place/Date: Singapore - May 25th, 2022 at 8:55 am UTC · 3 min read
Contact: Feroz Lakhani, Source: Tron DAO
Fireblocks, the leading digital asset and crypto infrastructure platform, has added support for TRX and all TRC20-based tokens of the TRON DAO blockchain on its institutionally-focused digital asset platform today.
With one of the largest and most active communities, remarkably low transaction fees, and high scalability, TRON is the Top #3 blockchain and one of the most popular layer 1 DAOs in the industry. Within the first 72 hours of Fireblocks’ Early Access Program enabling clients to receive TRON functionality, Fireblocks saw $35 million of transaction volume.
Fireblocks currently supports more than 1,100 tokens and over 35 protocols. To date, Fireblocks customers have amassed $45 billion assets under custody on the platform, which institutions have used to secure over $2.5 trillion in digital asset transfers. Today’s announcement follows a recent surge of new assets added to the platform as it expands institutional DeFi access.
More than 1,200 liquidity partners, trading venues, and counterparties on the Fireblocks Network can now securely and smoothly send, receive, or custody TRX and other TRC20 tokens using TRON DAO’s platform.
Michael Shaulov, CEO & Co-founder of Fireblocks, said:
“We have seen a lot of demand from our customers to support TRX and TRC20 tokens. We’re excited to be able to make these tokens available to our enterprise customers and look forward to supporting the ecosystem’s continued growth.”
H.E. Justin Sun, Founder of TRON, said:
“TRON was built with the core mission of making blockchain technology accessible, whether it be for users, developers or investors. It is exciting to see TRON DAO continue to grow and see the institutional community get involved with partnerships with industry leaders like Fireblocks.”
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,200 financial institutions, has secured the transfer of over $2.5 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. Some of the biggest trading desks have switched to Fireblocks because it’s the only solution that CISOs and Ops Teams both love.
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of May 2022, it has over 94 million total user accounts on the blockchain, more than 3.2 billion total transactions, and over $10 billion in total value locked (TVL) as reported on TronScan. In addition, TRON hosts the largest circulating supply of USD Tether stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the algorithmic stablecoin USDD was announced on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.