The Latest Breaking News from Fireblocks

Silo Pharma Inc. (NASDAQ:SILO) on Wednesday announced that it has engaged Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations, as custodian for its institutional crypto treasury platform.

More than 40 companies have joined the network, including Bridge, a stablecoin startup recently acquired by the fintech giant Stripe.

Tokenized U.S. Treasuries have grown significantly this year as BlackRock's BUIDL tokenized money market fund entered the picture, but beyond the asset management titan's entry, there is a brewing shift as adopters begin to understand the true value of tokenization, with U.S. Treasuries at the forefront.

A U.S. Treasury report recognized the growth of the stablecoin sector, but it also warned of run risks related to the market and suggested that stablecoins will "likely need" to be replaced by CBDCs.

Thailand's oldest commercial bank has partnered with Lightnet to allow stablecoin settlements, integrating Fireblocks custody technology to enhance cross-border payments and remittances.

Stablecoins have fast-become a significant player in the broader cryptocurrency industry, and with their utility in business-to-business transactions being proven by PayPal earlier this month, will stablecoins soon become the future of payments?

Crypto is fast-becoming a key issue in the November elections, with more politicians recognizing the industry's growing significance for American voters who press for regulatory clarity.

Institutional investors continue to enter the crypto space, and new data shows that a growing number are no longer just testing the waters – many have made the splash into the vast waters of digital assets.

Fireblocks has announced the launch of its self-service suite for startups that will help blockchain builders across some key facets of the industry, including with managing treasury operations and DeFi access.