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[PRESS RELEASE – Georgetown, Cayman Islands, September 1st, 2023]
Kava Chain, a decentralized Cosmos-Ethereum interoperable Layer 1 blockchain, is now available on Fireblocks, an enterprise platform for managing digital asset operations and building innovative businesses on the blockchain. The integration will enable safe and secure access to the expanding Cosmos DeFi ecosystem via the Kava Chain for Fireblocks customers.
“With the integration of Kava Chain onto the Fireblocks network, we are 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, Fireblocks. “Over the past year, we have seen a growing institutional interest in DeFi. Fireblocks’ defense-deep security and customizable Transaction Authorization Policy (TAP) allow our customers to safely explore and innovate in the DeFi space without compromising their compliance and security requirements. We look forward to opening up more opportunities for our customers in the future.”
Kava Chain has been steadily building and growing through the bear market. However, without a strong connection with an MPC (multi-party computation) custody technology provider, top-tier crypto institutions have not been able to engage with DApps on-chain. The Fireblocks integration enables over 1,800 leading digital asset and crypto institutions to now hold KAVA tokens and access Kava-native assets, including Cosmos-native USDT – which will be issued by Tether exclusively on the Kava Chain. has been selected for.
This integration not only enhances institutional access to Kava, but also allows FireBlock customers to:
- Engage in DeFi opportunities on platforms within the Kava ecosystem such as Curve, Kinetics and Hover.
- Participate in market-making using Cosmos-native USDt on major exchanges.
- Explore new USDt DeFi opportunities on the leading Cosmos Appchain.
“The role of Kava Chain in arbitrage market building is becoming increasingly important. With the Fireblocks integration, centralized exchanges (CEXs) and major market makers have a more capital-efficient alternative to cross-chain arbitrage,” said Scott Stuart, co-founder of Kava Chain. “Instead of incurring high gas fees on Ethereum, they can now use Kava to efficiently move USDT between ecosystems. We are excited about the future and the value this integration will bring to our community!”
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about kava
Kava Chain (a secure, lightning-fast layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos into a single, scalable network. Committed to fostering innovation and growth, Kava Chain is a trusted choice for developers and users around the world.
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source: cryptopotato.com
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