Fireblocks invests $250 million in an altcoin competing with Ethereum!


Fireblocks, a digital asset storage platform, announces the provision of corporate DeFi access to Terra (LUNA). And for this integration, Fireblocks is investing a huge $250 million.

Decentralized Terra Applications

For Fireblocks, it is reasonable to choose Terra, which is of course the second in this field for this integrated DeFi field. According to the announcement, Fireblocks users can now get secure access to all decentralized applications built on the Terra blockchain. In addition, this Fireblocks investment launch occurs within the first 72 hours after this access. The company’s CEO Mikhail Shaulov highlights the growing corporate demand for DeFi and adds:

“As the appetite for DeFi grows, so will the desire to access all the latest and greatest innovations in various blockchain ecosystems.”

In the process, Terra (LUNA) continues to create Bitcoin (BTC) reserves for its native UST stable coin and is trying to reach its goal of $10 billion in Bitcoin BTC. In addition, despite the fact that Terra is designed for cross-border individual transactions, it is also expanding its application with this and similar corporate developments.

Growing demand for DeFi

dApps Terra, ranging from DeFi, payment platform, games and NFT, offer a variety of solutions for the market. However, there is an increase of up to 400% in the Terra network, and it is stated that there are 4 million wallets in the network. On the other hand, the DeFi market is no longer limited to individual investors with institutional investments.

Recently, DeFi has become increasingly attractive to major players, as financial institutions and banks one by one begin to invest in cryptocurrency. However, awareness of DeFi seems to have increased since the SEC launched an investigation into Uniswap last year. On closer inspection, these strict monitoring procedures are causing controversy in large countries, especially in the field of DeFi.