EMBARGO Feb 12 9 AM HK TIME
Introduction to Fireblocks and Soneium
Fireblocks, a leading provider of crypto custodian technology, has recently announced its integration with Sony’s Soneium blockchain. This innovative Ethereum layer-2 network is designed to bridge the gap between traditional internet (Web2) and the burgeoning blockchain-based ecosystem known as Web3. This collaboration signifies a significant step forward in the evolving landscape of digital assets.
The Importance of Crypto Custodians
With a client roster that includes numerous large institutions and financial entities, Fireblocks plays a crucial role in the secure storage of digital assets. Crypto custodians are vital for the institutional adoption of cryptocurrencies, as they provide the necessary security and insurance required by major capital allocators such as hedge funds and family offices. By ensuring the safety of digital assets, they facilitate trust and confidence in the growing crypto market.
Exploring Soneium’s Potential
Soneium, a joint venture between Sony and Singapore’s Startale Labs, began its operations in January and has already attracted attention with a total value locked (TVL) of $33.6 million, according to DeFiLlama data. The blockchain is built on Optimism’s OP Stack, enabling it to support a diverse range of applications across gaming, finance, and entertainment sectors. Fireblocks’ support for Soneium is poised to enhance the provision of custody services within this emerging blockchain network.
A Vision for the Future
Omer Amsel, Fireblocks’ head of Web3, articulated the company’s commitment to Soneium’s vision of creating an open internet that transcends boundaries. He stated, “Together, we will provide secure, decentralized digital ownership and experiences to users and creators while offering a safe environment for digital innovation.” This collaboration not only enhances Fireblocks’ offerings but also contributes to a more accessible and secure digital future.
Conclusion
The partnership between Fireblocks and Sony’s Soneium marks an exciting development in the crypto industry. By expanding its custodial services to support innovative blockchain solutions, Fireblocks is paving the way for increased institutional engagement in the digital asset space, ultimately fostering a more robust and secure environment for users and creators alike.
