IOTA Gains Institutional Traction as Fireblocks Adds EVM Support to Its Secure Platform

• Fireblocks has announced the integration of the IOTA EVM, allowing institutional investors to transfer, hold and manage IOTA tokens and tokenised assets.
• The institutions can also leverage the Fireblocks REST API to develop IOTA token solutions for their retail clients across DeFi, GameFi, NFTs and more.

Crypto is no longer a retail game for speculators and meme coin lovers. Today, crypto and the underlying blockchain technology underpin global applications that span dozens of industries and impact the global economy. This has brought on institutions and multinational corporates, and with the recent Fireblocks integration, this group can now store, transfer and manage IOTA tokens and assets tokenized on the network.

IOTA announced the Fireblocks integration this week, describing it as “a major step forward in supporting a wide range of digital asset operations.”

Excited to share @FireblocksHQ integrated #IOTAEVM, bringing enterprise-grade security and custody services to #IOTA builders & institutional users!

This marks a major step forward in supporting a wide range of digital asset operations – more belowhttps://t.co/SPte3wqpYB pic.twitter.com/nglzorVHva

— IOTA (@iota) October 7, 2024

The New York-based Fireblocks is one of the world’s leading digital asset platforms, serving some of the world’s largest institutions and allowing them to delve into digital assets without all the associated risks. Launched in 2019, Fireblocks has facilitated over $6 trillion in digital assets and supports over 80 protocols and networks. It has now integrated IOTA EVM, allowing its massive network of enterprise users to transact IOTA tokens and assets on the network through its API and console.

The integration allows institutional investors to store their IOTA tokens in their Fireblocks vaults and transfer the tokens over the Fireblocks network to other investors. It’s not limited to institutional use, however. These institutions can launch token support for their retail customers with Fireblocks’ REST API, the base layer of the company’s SDKs that allow them to program its services and customize them for their target audience. They can then deploy these tokens into retail-facing applications across DeFi, NFTs, GameFi, and other marketplaces.

Toeknisation is the biggest target market for institutions, with Goldman Sachs projecting that the sector could hit $16 trillion by 2030. It also aligns with IOTA’s redefined vision, as founder Dominik Schiener explained to Crypto News Flash earlier this year in an exclusive interview.

The Fireblocks integration fits into this, allowing users to securely mint and transfer tokenised assets.

With Fireblocks’ support, builders can securely mint and transfer tokenized assets, explore DeFi, NFT marketplaces, GameFi, and more.

It’s all about securing growth and fostering innovation on the IOTA EVM!

— IOTA (@iota) October 7, 2024

The IOTA team summed up the new integration as monumental, stating:

In conclusion, IOTA EVM’s integration into Fireblocks marks a significant milestone towards offering a top-notch ecosystem for institutional and enterprise users. The storage, transfer, and creation of tokens need to be as easy as possible, so builders can focus on their product and not have to worry about security or custody.

IOTA joins other leading blockchain networks that have announced similar integrations with Fireblocks to cater to the institutional audience. Three weeks ago, Chainlink teamed up with Fireblocks to focus on the transfer and management of stablecoins, as we reported.

IOTA trades at $0.1204, dipping 1% over the past day as the broader market cap dropped 2.2% to hit $2.16 trillion at press time.