Fireblocks Expands Its Support for Sony’s Soneium, a Move Towards Custody Services
Support for Soneium is a precursor for firms to use Fireblocks’ technology to provide crypto custody services on the month-old blockchain.
Fireblocks, a provider of crypto custodian technology, announced that it has added support for Sony’s new blockchain Soneium, which serves as an Ethereum layer-2 network. This new technology is aimed at bridging the traditional Web2 and the upcoming blockchain-based Web3.
Key Points:
- Fireblocks has officially added support for the Soneium blockchain launched by Sony.
- Custodians like Fireblocks are crucial for the adoption of cryptocurrency by institutions.
Fireblocks already serves several large institutions, including major banks. The company highlighted that crypto custodians play a vital role in ensuring safe storage for digital assets, which is a requirement for large financial allocators like hedge funds to mitigate risks.
The integration of Soneium, a collaboration between Sony and Singapore’s Startale Labs, opens up opportunities for custody services on the new blockchain, which only started operations in January and currently holds $33.6 million in total value locked (TVL). Soneium is designed with Optimism’s OP Stack and is intended to support applications in gaming, finance, and entertainment.
Omer Amsel, Fireblocks’ head of Web3, stated: “Fireblocks is committed to helping Soneium on their vision of creating an open internet that transcends boundaries. Together, we will provide secure, decentralized digital ownership and experiences to users and creators while offering a safe environment for digital innovation.”
