We’re excited to announce that Fireblocks has officially launched support for Solana, the second-most popular layer 1 smart contract platform, after Ethereum. Fireblocks customers can now store and trade Solana’s native SOL tokens and SPL tokens built on the Solana blockchain.
With notably low fees (less than 1 cent per transaction), more than 40 user-friendly dApps, and the fastest block times in the industry (400ms), Solana’s popularity continues to surge.
Fireblocks currently supports more than 1,000 tokens and 30 protocols, and we’re always adding new integrations. Check out the full list of tokens available on the Fireblocks platform here.
Institutional SOL access
Effective immediately, Fireblocks users can now:
- Store SOL in their Fireblocks Vault
- Transfer SOL on the Fireblocks Network
- Launch SOL token support for retail customers and users with Fireblocks’ REST API
By March 2022, Fireblocks will also be launching support for SPL tokens, as well as staking for the native SOL token and SPL tokens.
About Solana (SOL)
Solana is a decentralized, high-performance blockchain for building highly scalable, user-friendly smart contract crypto apps. As of December 2021, it’s the #1 competitor to Ethereum, with a $53B market cap.
Today, firms seeking lower fees and faster transfers use Solana-based lending, trading, and staking dApps like Raydium DEX (>$1.5B TVL) and the Degenerate Ape Academy NFT project. They’re also looking forward to the release of highly touted projects like Fractal (Solana’s NFT gaming market), and Michael Jordan’s HEIR.
Solana ensures composability between ecosystem projects by maintaining a single global state as the network scales. This means that users won’t have to worry about fragmented Layer 2 systems or sharded chains. In addition, the network’s scalability ensures that transaction costs will remain below $0.01 for both developers and users.
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