This new development was announced in line with a significant increase in activity on Fireblocks’ platform over the past year. With this expansion, the company aims to become a major player in the DeFi ecosystem.

Idan Ofrat, Fireblocks’ chief product officer, introduced these new tools at the SPARK event on December 4, at the company’s annual user conference.

The newly added features aim to increase security for projects using DeFi applications. Users interacting with leading DeFi applications such as Aave and Uniswap will be able to exchange tokens directly in the Fireblocks console via Fireblocks Swaps.

This feature eliminates the need for users to transfer funds to other accounts or manage different exchange accounts, making transactions faster and safer.

“By eliminating the need to transfer funds or manage exchange accounts, Fireblocks simplifies our workflow and directs our focus to growing our business,” said Joaquín Herrera, chief operating officer and founder of Takenos, about this new feature offered by Fireblocks.

This feature provides significant convenience, especially for projects that interact with DeFi applications. Users can exchange tokens quickly and thus make more efficient transactions.

Fireblocks Token Allowance Manager is another innovation. This tool allows users to reduce risks associated with malicious smart contracts by making token permissions more visible. This feature will initially be available for Ethereum users, and more blockchain support may come in the future.

The token permission manager will allow users to see which smart contracts are sending tokens, so they can block a potentially harmful transaction.

The release of these tools continues Fireblocks’ expansion into the digital assets space. In July, the company released a toolkit that offers its own key management and security solutions for blockchain entrepreneurs.

This toolkit allows projects to manage their assets securely, while also supporting the company’s strategic goals.

Fireblocks also integrates with major crypto providers and mainstream companies. By making an integration agreement with the gaming platform Immutable in August, it aimed to increase the use of DeFi solutions in the gaming industry.

In September, it established a strategic alliance with Chainlink Labs and took steps to provide banks with access to regulated stablecoin issuance and management technologies.

By launching its non-custodial wallet-as-a-service product in September 2023, Fireblocks aimed to further improve the security of digital assets and user experience.

These developments stand out as an important part of Fireblocks’ goal to become a leader in the field of digital assets.