Timechain, a multi-product architecture of solutions for assets management and liquidity logistics in DeFi, has scored an important partnership on its way to institutional adoption.
Timechain ecosystem joins Fireblocks network
According to the official announcement shared by the Timechain team, it has entered a long-term strategic partnership with Fireblocks, an enterprise-grade platform for digital assets storage.
With this partnership, Timechain's services will be avaliable for a plethora of major global banking institutions, "over-the-counter" trading services, asset management platforms, liquidity providers and hedge funds.
Louis Cléroux, CEO of Timechain, emphasizes the importance of the new partnership for Timechain's solutions' adoption and for DeFi progress in the segment of institutions:
This partnership allows us to offer our customers an ultra-secure product, and will give us the opportunity to scale up our business in the future. This is an important step in the growth of our company. We will also be able to continue our efforts to educate the general public about the world of cryptocurrency.
To provide context, the number of Fireblocks residents spiked sixfold since 2020: now, 400 fintech majors are interconnected on this platform, and counting.
Bringing DeFi instruments to institutions: What is Timechain?
Michael Shaulov, CEO and co-founder of Fireblocks, is excited by the mission of Timechain and the vision of its team as well as the opportunity to strengthen Fireblocks' positions on the Canadian market:
We are excited to continue expanding our footprint in Canada, and this integration with Timechain will enable Fireblocks to help secure the assets of Timechain’s customers in the region. By allowing customers the ability to leverage the security of the Fireblocks infrastructure, Timechain will be able to expedite the introduction of new tools while growing the roster of digital assets it can support.
As covered by U.Today previously, Timechain created a hierarchy of DeFi solutions on the top of liquidity pools and native DEX module TimeChainSwap.
The protocol is incorporated in Canada as a licensed Money Services Business (MSB); its clients can benefit from various liquidity, NFT and DeFi initiatives.
TCS token is a building block of Timechain's tokenomic design.