TON blockchain has announced a strategic collaboration with cryptocurrency custodian Fireblocks, in conjunction with DWF Labs.
According to a statement released on March 13, TON revealed that the incorporation of Fireblocks’ multi-party computing technology (MPC-CMP) has resulted in an 800% increase in transaction reliability and speed.
🔈 TON Foundation joins forces with @FireblocksHQ & @DWFLabs to bring advanced and secure direct custody technology to everyday people, making Web3 safer and more accessible!
Fireblocks’ integration with #TON will enhance security and facilitate DeFi integrations. DWF Labs will… pic.twitter.com/WFz5uDwBpz
— TON 💎 (@ton_blockchain) March 13, 2024
Moreover, TON developers anticipate that Fireblocks’ digital asset security solutions will bolster the security of user transactions, elevating TON Space to institutional standards.
Fireblocks has extended support to the TON wallet and integrated the project’s native token, Toncoin (TON), onto its platform. This move aligns with TON’s ambition to democratize access to digital assets for 500 million users by 2028.
The TON team emphasized the significance of Fireblocks’ involvement, citing its successful collaboration with other Layer 1 networks:
“The significance of Fireblocks’ involvement with TON is underscored by its successful track record with other Layer 1 networks. Past collaborations have shown Fireblocks’ ability to enhance network security, streamline operations, and facilitate growth within various ecosystems. By drawing on these experiences, the integration with TON aims to replicate and surpass these successes, thanks to the unique attributes and expansive vision of the TON Ecosystem. With Fireblocks, TON will achieve improved cross-chain interoperability and provide new use cases for Toncoin.”
The integration of TON into the Fireblocks platform has been completed and is scheduled to launch this month, supported by funding from DWF Labs. DWF Labs has been instrumental in financing the development and expansion of the TON ecosystem, having previously invested $10 million in the TON Foundation in November 2022.
In the past week, the value of TON has surged by 62%, reaching $4.25 at the time of reporting, with a market capitalization of $14.95 billion, according to CoinMarketCap.
This recent surge in TON’s value is attributed to the news of Telegram’s upcoming initial public offering (IPO). Given Telegram’s status as one of the world’s largest and most popular instant messengers, its IPO is expected to draw increased attention from investors to Toncoin.
