Fireblocks

Fireblocks provides institutional investors access to Terra DeFi

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Fireblocks, a digital asset custody platform, says its institutional clients can now access decentralized applications supported by Terra’s decentralized finance (DeFi) ecosystem, the No. 2 protocol behind Ethereum.

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Fast facts

  • Institutional users can now access decentralized applications built on Terra such as Anchor, Lido and Astroport, Fireblocks said in a statement Tuesday.
  • Under a program that granted some clients early access, Fireblocks recorded US$250 million of inflows to the Terra ecosystem within 72 hours.
  • The latest Terra integration reflects Fireblocks’ push to offer access to new markets as the institutional demand for DeFi continues to grow.
  • “As their [institutional demand] appetite expands, so will their desire to be able to access all of the latest and greatest innovations across different blockchain ecosystems,” said Michael Shaulov, CEO of Fireblocks.
  • Fireblocks raised US$550 million in its latest funding round in January, valuing the company at US$8 billion.
  • On Tuesday, Terra recorded US$30.4 billion in total value locked, making it the second-largest DeFi protocol just behind Ethereum, according to data from DeFiLlama.

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