Cardano Gains Institutional Backing as Fireblocks Prepares Native Token Support

Cardano's institutional custody landscape is expected to expand next year after Fireblocks announced plans to support Cardano Native Tokens by March 2027. This new development builds on the existing relationship between Fireblocks and ADA, with the company already supporting the asset since 2021.

The partnership will allow financial institutions using Fireblocks to securely custody, send, and receive Cardano Native Tokens, including those issued directly on the Cardano network. While this may not necessarily lead to an immediate increase in ADA's price or the launch of new Cardano products by banks, it does pave the way for increased institutional access and adoption.

Meanwhile, Remittix is working on a more consumer-facing solution that combines cross-border payments with an active trading service and wallet access. The project has already passed $32 million in fundraising, exceeding its target of $36 million, and is set to debut its RTX token by November 24.