Hassan Maishera
On Wednesday, the Cardano Foundation announced via a blog post that Cardano Native Tokens (CNTs) will be supported on Fireblocks.
The thousands of banks, exchanges, payment firms and fintechs that use Fireblocks will be able to custody, send and receive CNTs using the same security and policy controls they apply to every other digital asset.
CNTs are issued directly on the Cardano blockchain alongside its native currency, ADA, which Fireblocks has supported since 2021.
With native support, CNTs become standard assets on the platform, including tokens that use both the Cardano Token Registry (CIP-26) and Cardano's onchain metadata standard (CIP-68). Support is expected to be available by March 2027.
Cardano is a third-generation blockchain using the Ouroboros proof-of-stake consensus mechanism, designed to consume significantly less energy than proof-of-work networks.
Cardano's development is primarily managed by Input Output Global (IOG, formerly IOHK), founded by Charles Hoskinson, an early Ethereum contributor. The ecosystem includes the Cardano Foundation, which ensures standardization and advocacy, and Emurgo, which drives commercial adoption and business development. Cardano operates as a Layer 1 blockchain separate from other infrastructure projects.
ADA, the native cryptocurrency, serves two functions: as a medium of exchange on the Cardano network and as a mechanism for participating in network security and governance through staking. Similar to Ether on Ethereum, users must hold ADA to execute smart contracts and pay transaction fees.
Cardano is designed as a third-generation blockchain, addressing limitations in first-generation networks like Bitcoin and second-generation platforms like Ethereum. Prior-generation blockchains often face throughput bottlenecks that constrain transaction capacity and increase fees during periods of high network activity.
ADA is up 2.4% in the last 24 hours, trading at $0.2480 per coin.
