Fireblocks, a digital asset custody platform, is announcing that it has enabled enterprise DeFi (Decentralized Finance) access to Terra (LUNA). For this integration, Fireblocks invests a huge 250 million dollars.
It is reasonable for Fireblocks to choose Terra (LUNA), which is, of course, the second in this field for this integrated DeFi (Decentralized Finance) field. According to the announcement, Fireblocks users can now securely access all decentralized DApps built on Terra's blockchain. Also, this investment launch by Fireblocks comes within the first 72 hours of this access. The company's CEO, Michael Shaulov, underlines the growing corporate demand for DeFi and adds:
“As the appetite for DeFi grows, so will the desire for access to all of the latest and greatest innovations in different blockchain ecosystems.”
In the process, Terra (LUNA) continues to build Bitcoin (BTC) reserves for its native stablecoin UST and is trying to complete its target of $10 billion in Bitcoin BTC. In addition, although Terra (LUNA) is designed for cross-border individual transactions, it also increases its adoption with this and similar corporate developments.
Terra's DApps ranging from DeFi, payment platform, gaming and NFTs offer many solutions for the market. However, Terra's network has seen a growth of up to 400%, 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 the investments of institutions.
Recently, DeFi is becoming more attractive to big players as financial institutions and banks start investing in crypto one by one. However, DeFi's awareness seems to have increased as the SEC launched an investigation into Uniswap last year. On a closer look, these strict monitoring procedures cause a debate for large countries, especially in the DeFi field.