Enterprise crypto custody tech provider Fireblocks is reportedly gearing towards the roll-out of token minting offerings, via new integration with Ethereum– and Polygon-compatible platform Tokeny.

Specifically, the freshly rolled out functionality reportedly makes it possible for establishments and retail customers to mint and manage permissioned tokens, digital securities, stablecoins, and loyalty programs through a vast array of trading applications, payment networks, and digital banks. 

Fireblocks and Tokeny reportedly utilize ERC-3643 security tokens deployed on the Ethereum and Polygon blockchains.

Fireblocks reportedly offers an enterprise solution supporting the moving, storing, and issuing of crypto assets to exchanges, lending desks, custodians, banks, trading desks, and hedge funds.

Fireblocks’ technology is reportedly utilized by over 1,300 financial institutions, and the firm is reported to have finalized the processing of over $3 trillion in digital asset transfers to date. 

The most recent integration provides institutional-grade users the power to mint and manage their tokens, apart from managing conventional cryptocurrency portfolios.

The firm was reportedly established in 2019 by three cyber security professionals, who had conducted investigations of a series of hacks on South Korean exchanges, carried out by the Lazarus Group for Check Point Research. The trio founded Fireblocks to function as a secure platform for financial institutions to offer safeguarding for crypto assets from online threats, using MPC technology to secure private keys and API credentials.

The firm has reportedly managed to achieve unicorn status as a crypto entity, having successfully obtained much more than the initial $500 million target in the three years since its inception. 

Its list of corporate users includes cryptocurrency exchanges, hedge funds, market makers, and over-the-counter trading desks like BlockFi, eToro, Galaxy Digital, Celsius, and Crypto.com.