TON Foundation enters partnership with Fireblocks and DWF Labs

TON Foundation has entered into a partnership with Fireblocks and DWF Labs. The announcement was shared on the official X account of TON.

The tweet read that the parties will join forces to bring secure and advanced direct custody technology to the general public. The move will make Web3 more accessible and safer for everyone.

Since Fireblocks is integrating with TON, it will elevate safety and facilitate more DeFi integrations. At the same time, DWF Labs will close the gap between Fireblocks’ enterprise-grade services and TON’s retail-centric ecosystem.

Thus, the collaboration will establish a Web3 ecosystem ideal for mainstream adoption. Besides this, Firelocks will also integrate the TON blockchain and Toncoin into its platform. It will help the TON ecosystem gain access to Fireblocks’ next-gen digital asset security.

On the other hand, TON Foundation will continue to reach its aim of putting crypto in every pocket. The platform has a roadmap for offering digital asset wallets to 500 million+ customers in the next five years. 

TON will leverage Fireblocks’ MPC-CMP technology to achieve this goal. The Multi-Party Computation algorithm allows virtual asset transactions to be signed in via 1 round. It facilitates the quickest transaction signing speeds, outperforming other algorithms by up to 800%.

Its outstanding track record with L1 networks highlights this partnership between TON and Fireblocks. Fireblocks have helped several networks deploy enhanced security and streamlined operations to facilitate growth. 

The latest collaboration will aim to replicate these experiences and even surpass them. Fireblocks will help TON gain cross-chain interoperability while offering additional real-world use cases for Toncoin.

It is important to note that both developers and users can use the Fireblocks integrations because they are already complete.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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