Cardano Seeks 23M ADA for Fireblocks Integration Push

A new governance proposal has been put forth in the Cardano ecosystem, seeking to allocate 23 million ADA for infrastructure development and integration with Fireblocks.

The Cardano Critical Integrations V2 proposal aims to build on the platform's existing support for institutional custody and transfers. As part of this initiative, a native integration with Fireblocks would be established, expanding the scope of planned support to include Cardano Native Tokens (CNTs).

The proposed funding will cover Fireblocks' blockchain integration fee and its initial annual fee for the first year, but the exact amounts are not specified. The community is now reviewing and voting on this proposal.

This development follows Fireblocks' previous support of ADA, which began on August 12, 2021, enabling users to store and transfer the asset through its platform. However, the planned integration would take it a step further by extending support to CNTs, although it's unclear whether every token meeting specific standards will be included.

The proposal is significant because it treats Cardano as a natively supported blockchain within Fireblocks, setting a precedent for broader institutional adoption and participation in the ecosystem.