BadgerDAO collaborates with Fireblocks to bring institutional investors' Bitcoin into the DeFi ecosystem

The decentralized finance (DeFi) protocol BadgerDAO has announced integration with Fireblocks to provide institutional investors with a new option for Bitcoin investments in DeFi.

Badger Integrates with Fireblocks

According to the latest announcement from decentralized finance (DeFi) protocol BadgerDAO, despite the total value locked in DeFi currently exceeding $52 billion, many believe that institutional investor funds have yet to flow in. In fact, institutional investors are also interested in entering the DeFi space, but the challenges of regulation and operations associated with interacting with DeFi have made these large investors hesitant. To meet the investment demand from large capital in DeFi, BadgerDAO has announced a strategic partnership with Fireblocks, enabling Fireblocks' 200+ institutional clients to deposit their Bitcoin into the Badger protocol and securely hold Badger assets (bBadger, bDIGG).

Chris Spadafora, the founder of BadgerDAO, stated that this integration will make it easier for institutional investors to access Badger's vaults and products:

"Our goal is to further help Bitcoin institutional holders access DeFi. Badger smart contracts can be easily integrated by anyone/company without permission, and we hope to see more centralized service providers serving the institutional market adopt Badger."

With the establishment of an interaction channel with institutional investors and leveraging Fireblocks' client base and capital, this may further enhance the total value locked assets of Badger.

Institutional Asset Management Platform Fireblocks

Fireblocks is an institutional-grade digital asset service platform that provides services for over-the-counter trading, custody, transfers, token issuance, and more. In March of this year, Fireblocks raised an astounding $133 million in funding led by Melon Bank in New York, and currently serves over 200 financial institutions including BNY Mellon, Galaxy Digital, Genesis, JST Capital, Revolut, Parafi Capital, and Coinbase Pro, with a total transaction volume exceeding $400 billion to date.

Collaborating with DeFi projects is not new for Fireblocks. In March 2017, Fireblocks integrated with lending protocol Compound, providing institutional investors with access to DeFi for the first time. Since then, Fireblocks has continued to add twelve protocols, including Aave, Maker, Synthetix, dYdX, Dharma, Oasis, Consensys, Codefi, Rocket Pool, Staked, Airswap, Kyber Swap, and Fulcrum.