Kava Chain Goes Live on Fireblocks, Giving Institutions Access to Cosmos DeFi
Decentralised Cosmos-Ethereum interoperable Layer 1 blockchain Kava Chain has launched on Fireblocks, an enterprise platform for managing digital asset operations and developing innovative blockchain-based enterprises. Following the integration, Fireblocks customers will be able to use the Kava Chain to connect to the growing Cosmos DeFi network with peace of mind.
What benefits await users as a result of the integration?
Fireblocks says that its customers can safely explore and innovate in the DeFi space because of its defense-in-depth security and adaptable Transaction Authorization Policy (TAP).
“With the integration of Kava Chain onto the Fireblocks Network, we’re excited to bring Kava’s innovative suite of DeFi app protocols and Cosmos DeFi access to our customers,” said Idan Ofrat, Co-founder and Chief Product Officer at Fireblocks.
Despite the market downturn, Kava Chain’s development and growth have continued to soar. However, leading crypto institutions have been unable to interact with the dApps on-chain due to a lack of a reliable connection to an MPC (multi-party computation) custody technology provider. With the Fireblocks integration, over 1,800 of the world’s leading digital asset institutions can access KAVA tokens and other Kava-native assets, such as the Cosmos-native USDt.
Users of Fireblocks can also make the most the DeFi opportunities on Curve, Kinetix, and Hover, all of which are part of the larger Kava ecosystem. They can also explore new USDt DeFi opportunities on major Cosmos appchains and take part in market-making utilising USDt unique to the Cosmos ecosystem.
In addition, centralised exchanges (CEXs) and market makers now have a more cost-effective option for cross-chain arbitrage thanks to the integration. With Kava, users enjoy the benefits of transfering USDt between ecosystems without incurring the high gas fees associated with doing so on Ethereum.