Fireblocks launched a non-custodial wallet-as-a-service aimed at catering to businesses across various sectors, reflecting a broader industry trend towards user-controlled digital assets.
Fireblocks introduced a non-custodial wallet-as-a-service (WaaS) tailored for various sectors, including brands, corporates, fintechs, and web3 businesses today, Sept. 11. This development is noteworthy as it reflects a larger industry trend toward user-controlled assets, particularly in light of challenges faced by centralized platforms like FTX.
The non-custodial wallet is designed to work across multiple platforms, including iOS, Android, and web browsers, facilitated by a software development kit.
While there is a growing interest in defi, non-fungible tokens (NFTs), and native web3 functionalities among fintechs and brands, these innovations come with their own sets of challenges, specifically around security and compliance. Issues such as the loss of seed phrases and vulnerabilities in multi-party computation have created hurdles in ensuring user security at scale.
To mitigate these challenges, Fireblocks’ non-custodial WaaS employs MPC-CMP technology within a hardware-based trusted execution environment. This aims to add multiple layers
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Author: Bralon Hill
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