TON announces collaboration with Fireblocks and DWF Labs

The TON blockchain announced integration with the cryptocurrency custodian Fireblocks with the participation of DWF Labs.

TON representatives stated in a March 13 announcement that the multi-party computing technology (MPC-CMP) developed by Fireblocks specialists improves the reliability and speed of transactions with an increase of 800%.

In addition, developers say Fireblocks’ digital asset security solutions will positively impact protecting user transactions. The company believes this cooperation will bring TON Space to the institutional level.

Fireblocks launched support for the TON wallet and added the project’s native token, Toncoin (TON), to its platform. This will allow the blockchain to achieve its goal of providing access to digital assets for 500 million users by 2028.

“The significance of Fireblocks’ involvement with TON is underscored by its successful track record with other Layer 1 networks.”

TON team

The integration of TON into the Fireblocks platform is complete and ready to launch this month, as DWF Labs provided funding for developing and expanding the blockchain ecosystem. In November 2022, DWF also invested $10 million in the TON Foundation.

Over the past week, the TON rate has increased by 62% in a week and, at the time of writing, reached $4.39, according to CoinMarketCap. The market capitalization of the asset is now $15.2 billion.

TON’s latest rise is in response to news of Telegram’s planned initial public offering (IPO). Telegram’s IPO may lead to additional attention from investors to the Toncoin, as Telegram is one of the world’s largest and most popular instant messengers.