Fireblocks Supports Avalanche Spruce Subnet

Published on: 05.05.2023
Fireblocks Supports Avalanche Spruce Subnet

Fireblocks Supports Avalanche Spruce Subnet an EVM-based testnet built for institutional blockchain deployments.

The purpose of Spruce is to provide a low-risk environment for buy and sell-side institutions to experiment with blockchain infrastructure. Institutional participants have started the onboarding process onto the testnet, and will be using it to evaluate the advantages of executing and settling trades on-chain for different assets and applications. Fireblocks Supports Avalanche Spruce Subnet

The benefits of utilizing Spruce as a buy and sell-side institution include:

  • Permissioned access – the Subnet offers a permissioned validator and user set, so only KYC’d entities can join.
  • Sampling of DeFi applications – various bluechip applications have launched on the Subnet, enabling institutions to experiment with blockchain rails and decentralized applications in a controlled environment.
  • Testnet environment – Spruce was built as a testnet, which allows institutional participants to experience the full functionality of Avalanche’s Subnet architecture without putting capital at risk.

About Fireblocks

Fireblocks is an easy to use platform to create new blockchain based products, and manage day-to-day digital asset operations, building block and create your own innovations on top of it. The Fireblocks Network connects to every major exchange, OTC, liquidity provider, and trading venue from day one.

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SOURCE: https://www.fireblocks.com/blog/fireblocks-launches-support-for-avalanche-spruce-subnet/

 

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