The institutional adoption of Solana is accelerating at an unprecedented pace, driven by its unmatched speed, efficiency, and scalability.. Its growing adoption by financial institutions and Web3 developers highlights its efficiency in real-time payments and tokenization. However, challenges remain in securely managing transactions, gas fees, and token operations. Fireblocks is addressing these pain points by introducing three critical capabilities—Native Program Calls, Gasless Transactions, and Tokenization—that enhance security, efficiency, and usability for businesses operating on Solana.
Fireblocks’ Solution: A Future-Proof Platform for Secure Solana Transactions
Fireblocks is committed to providing enterprises with robust, future-proof solutions tailored to the rapidly evolving blockchain industry. While much of the industry faced significant delays, Fireblocks’ ability to handle a 1,000% increase in Solana traffic with no issues or customer impact. To reinforce our commitment to meeting the growing demand on Solana and staying ahead of the curve, we are introducing Native Program Calls and expanding access to Gasless Transactions and the Tokenization Engine. These advancements ensure that businesses can fully leverage Solana’s capabilities with greater efficiency and security.
The Features: Enhancing Security and Efficiency on Solana
Native Program Calls: Reliable, Secure, and Transparent Transaction Execution
The Challenge
Historically, enterprises using Fireblocks and Solana smart contracts had to rely on third-party solutions that introduced inefficiencies, security vulnerabilities, and a lack of transparency. These limitations hindered the ability of institutions to maintain full control over their transactions.
The Solution
Fireblocks now has Native Program Call support enabling:
- Decoded transactions for increased transparency, ensuring institutions have full visibility into transaction details.
- Policy Enforcement with enhanced transaction rules to extend policy enforcement to program calls and support programs whitelisting.
- Live tracking enables real-time monitoring of transactions and tracking movement of funds.
- Extended transaction approval times to align with institutional workflows and compliance requirements.
- [coming soon] Solana transaction simulation to help signers and approvers understand the potential outcome of a transaction before approval, providing detailed insights and supporting data for better decision-making.
Institutions can now execute Solana transactions with complete visibility and security, eliminating reliance on external intermediaries. This feature enhances control over compliance, risk management, and operational oversight, ensuring that businesses can securely interact with Solana’s on-chain programs.
Solana Tokenization: Streamlined support for SPL Token Extensions
The Challenge
With the introduction of Solana’s Token Extensions, businesses are more rapidly expanding their tokenization initiatives to Solana. Enterprises looking to issue and manage SOL-based tokens need a secure, compliant, and user-friendly solution to control token distribution, manage supply, and enforce compliance measures.
The Solution
Fireblocks now supports tokenization on Solana via API and Console, providing enterprises with:
- Token issuance and distribution capabilities, streamlining the process of launching Solana-based assets.
- Advanced minting controls, including features such as Close Mint Account, Pause Functionality, Default Account Whitelisting, and Permanent Delegate, ensuring enhanced security and control.
- Enhanced metadata management, incorporating Metadata Pointer, Metadata Storage, and the ability to create custom metadata to support on-chain versions of familiar standards.
This feature enables businesses to seamlessly create, manage, and distribute Solana-based assets while maintaining institutional-grade security and regulatory compliance. By simplifying token issuance and management, enterprises can focus on scaling their digital asset operations without unnecessary friction.
Gasless Solana Transactions: Simplifying Fee Management
The Challenge
Currently, enterprises transacting on Solana must pre-fund wallets with SOL to cover gas fees, creating operational inefficiencies and adding unnecessary complexity to transaction workflows.
The Solution
Fireblocks introduces Gasless Transactions so that businesses can:
- Designate a vault account as the central source for all gas fees, eliminating the need for manual SOL top-ups.
- Leverage Solana’s native fee payer mechanism to automate gas payments, streamlining transaction execution and reducing operational overhead.
Gasless Transactions remove a major bottleneck for businesses handling high transaction volumes, particularly for payments, treasury operations, and digital asset management. By eliminating the need to pre-fund wallets with SOL, enterprises can operate more efficiently and at scale.
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Fireblocks is redefining institutional engagement with Solana by addressing key adoption challenges and expanding on our existing offerings—SOL custody, staking, SPL token management, and seamless DeFi connectivity. With the introduction of Native Program Calls, Gasless Transactions, and enhanced Tokenization support, we are making it easier, safer, and more efficient for enterprises to transact on Solana. These innovations empower businesses to scale their digital asset operations without friction, reinforcing our commitment to driving greater on-chain volume and accelerating the future of institutional blockchain adoption.