Fireblocks, an industry-leading platform for managing digital asset operations and developing innovative blockchain businesses, has announced the launch of its non-custodial wallet-as-a-service (WaaS) offering. This new service, which supports iOS, Android, and web browsers through the Fireblocks wallet SDK, is specifically designed for brands, corporates, fintechs, and Web3 businesses.
The launch of this new service comes in response to the growing demand from fintechs and brands for more control over their assets, especially following the downfall of centralized entities like FTX. These businesses are seeking to offer their users access to DeFi, NFT applications, and native Web3 experiences. However, regulatory, compliance, and security concerns pose significant challenges.
Fireblocks’ non-custodial WaaS offering aims to address these issues. “We have been working closely with leading brands and fintechs in the Web3 space to create a non-custodial wallet solution that meets their security expectations and can scale as needed,” said Michael Shaulov, Co-founder & CEO at Fireblocks.
The new service uses MPC-CMP technology in a hardware-based trusted execution environment, providing a multi-layer security architecture. It is the only solution that gives users full control over their wallets while preventing both internal and external threats from compromising the private key. Fireblocks is also the only WaaS provider with CCSS Level III, SOC2 Type II, ISO 27001, ISO 27017, and ISO 27018 certifications.
Fireblocks’ non-custodial WaaS is a white-label, modular solution that allows businesses to create fully customizable experiences for their end users. It enables companies to mitigate operational risks while providing seamless recovery for users who lose access to their devices.
One of the early adopters of Fireblocks’ WaaS infrastructure is Flipkart. The e-commerce giant has used the platform to launch its latest Web3-based brand engagement and loyalty program. Ravi Krishnan, Head of Flipkart Labs, stated, “Fireblocks has been instrumental in helping us simplify Web3 onboarding for the masses by seamlessly integrating wallets into the Flipkart mobile app. We have already created more than 2.4 million wallets for our users, one million of which were created in the last month alone.”
For Web3 developers, Fireblocks’ non-custodial wallets offer unrivaled customization, security, scalability, and trust. The solution features a building blocks architecture, a Web3 Wallet Link, a Policy Engine, and built-in blockchain node support. It also eliminates the need for seed phrases, removing the single-point of failure of private key and seed phrases.
Fireblocks currently secures over 130 million wallets for a range of B2C and B2B Web3, fintech, brands, financial institutions, corporates, and crypto companies. These include major players like BNY Mellon, BNP Paribas, NAB, Flipkart, eToro, Revolut, NuBank, Wisdom Tree, Animoca Brands, MoonPay, Mythical Games, Wirex, YellowCard, and Ava Labs.
In addition to offering a scalable wallet solution, Fireblocks also provides development teams with the ability to deploy and secure smart contracts. This allows them to control access to sensitive operations such as minting, transfers, and contract upgrades. The Fireblocks platform also includes a full treasury suite for finance and operations teams to manage day-to-day digital asset operations.
Fireblocks’ new non-custodial wallet solution represents a step forward in the evolution of digital asset management. It offers a unique combination of security, scalability, and customization that will undoubtedly make it a popular choice for businesses looking to leverage the power of the blockchain. For more information about Fireblocks’ new non-custodial wallet solution, visit www.fireblocks.com/platforms/non-custodial-wallets-as-a-service.