Fireblocks expands DeFi suite with token swaps and allowance manager

Fireblocks, an enterprise-ready digital asset platform, has expanded its suite of decentralized finance capabilities, offering support for token swaps and a grant manager.

The Fireblocks team shared the new development on December 4, noting that the DeFi expansion comes at a time when there has been a significant increase in activity on the platform over the past year. Fireblocks chief product officer Idan Ofrat announced two DeFi features during the company’s annual user conference, SPARK.

The token swaps and allowance manager provide important protections for projects looking to increase customer security when interacting with DeFi best applications, including Aave (AAVE) and Uniswap (UNI).

With Fireblocks Swaps, users can exchange tokens directly from within the Fireblocks console via the Uniswap API.

“Fireblocks streamlines our workflow by eliminating the need to transfer funds or manage foreign exchange accounts, allowing us to focus on where it matters: growing our business,” said Joaquîn Herrera, chief operating officer and founder of Takenos.

Meanwhile, Fireblocks Token Allocation Manager provides visibility into token allocations, allowing users to mitigate risks associated with malicious smart contracts. Support will initially be available for Ethereum users.

The launch of these new tools coincides with Fireblocks’ continued expansion into the digital assets space. In July, the platform unveiled its blockchain starter toolkit, which offers a streamlined way for projects to leverage self-storage, private key management, and other features.

Fireblocks is also integrated with multiple crypto and mainstream providers.

It announced its integration with the gaming platform Immutable in August, and in September it formed a strategic alliance with Chainlink Labs to allow banks access to its regulated stablecoin issuance and management technology.

The platform launched its wallet as a non-custodial service in September 2023.