Fireblocks has partnered with the decentralized liquidity protocol, THORChain, to revolutionize cross-chain transactions. This collaboration introduces enhanced custody and transfer capabilities for RUNE, THORChain's native token, across various blockchains like Bitcoin, Ethereum, BNB Chain, and Cosmos.
Cryptocurrency platform Fireblocks has announced a partnership with decentralized liquidity protocol THORChain to integrate RUNE, THORChain’s native token, into the Fireblocks platform. This collaboration will enable the secure custody and transfer of RUNE across multiple blockchains, including Bitcoin, Ethereum, BNB Chain, and Cosmos.
With this partnership, Fireblocks now offers custody and transfer capabilities for RUNE, and plans to integrate staking and access to THORChain’s liquidity features in the future. The integration will allow Fireblocks users to securely custody RUNE in Fireblocks Vault and perform seamless, secure transfers on the following chains:
According to the announcement, the integration will facilitate seamless asset exchanges, providing Fireblocks users with efficient and secure transaction options. It will also support RUNE staking and leverage THORChain’s decentralized liquidity features, making it significantly more accessible for institutional investors.
Fireblocks’ alliance with THORChain is set to revamp the blockchain ecosystem by enabling direct settlements without the need for wrapped or bridged tokens. This strategic move will reduce transaction risks and streamline the exchange process across different blockchain platforms. It will also enhance overall market liquidity and stability, positioning the partnership as a cornerstone for future innovations in decentralized finance.
Gavin McDermott, Head of Business Development at THORChain, said the following regarding the partnership:
THORChain is the industry’s largest decentralized, native asset settlement backbone. With billions in weekly volume, THORChain removes dependencies on wrapped or bridged assets, allowing swaps between native Bitcoin, ETH, Cosmos, and other major chains. With the Fireblocks integration live, we’re now bringing the power of seamless cross-chain settlement to the institutional market.
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