Overview

Tokenization is the representation of an asset, which could be a real-world physical asset or a digitally native one, on a distributed ledger. Tokens represent ownership, control, claim, or a right to the underlying asset or service. With Fireblocks, you can issue and manage tokens for your specific use case, such as stablecoins, carbon credits, in-game assets, concert tickets, real estate, memorabilia, artwork, NFTs, or any other asset you want to tokenize.

Tokenization terms

We recommend familiarizing yourself with these common terms around tokenization.

• Tokenization: The process of creating tokens on a blockchain to represent digital or physical assets.
• Contract deployment: The act of submitting a smart contract to the blockchain.
• Mint: The process of creating a supply of new tokens on a specific blockchain.
• Burn: The process of reducing the supply of a token from the blockchain.
• EVM-compatible: Any blockchain that uses the specifications of the Ethereum Virtual Machine (EVM), such as Ethereum, Polygon, Avalanche, and BNB Smart Chain.
• Smart contract template: A pre-configured smart contract.
• Contract functions: The operations that can be performed using a specific smart contract.

Tokenization on Fireblocks

The Tokenization feature allows you to deploy and manage tokenized assets and their lifecycle via the Fireblocks Console or the Fireblocks API.

Supported assets and blockchains

Fireblocks supports token issuance and management for the following networks and assets:

• All EVM-compatible blockchains supported by Fireblocks
• Solana
• Stellar
• Ripple

Token lifecycle management

Generally, a token's lifecycle involves:

1. Issuing new tokens or linking previously issued tokens.
2. Viewing token information on the Tokenization page.
3. Executing operations (minting, distributing, burning, etc.).

You can manage the tokens in your workspace using:

• The Fireblocks Console
  • EVM blockchains: You can call any smart contract function, such as minting and burning, for your EVM-based tokens on the Tokenization page.
  • Stellar and Ripple: You can issue, mint, burn, and transfer tokens on the Tokenization page. You can also create wallets with automatically established trustlines (an explicit opt-in to hold the token).
  • Solana: You can issue, mint, burn, and transfer tokens on the Tokenization page, as well as execute methods on Token 2022 programs via the program call UI.
  • All supported assets: You can link tokens on the Tokenization page, where you can view detailed information about each of them.
• The Fireblocks API
  • EVM blockchains: You can mint, burn, and transfer tokens using specific API operations. For all other operations, you can use contract calls.
  • Stellar and Ripple: You can issue, mint, burn, and transfer tokens. You can also create wallets with automatically established trustlines.
  • Solana: You can issue, mint, burn, and transfer tokens.  You can also execute methods on Token 2022 programs via "program call". 

Regardless of the method you use, these transactions adhere to your workspace’s Policy rules.

Tokenization Policy rules

Minting and burning rules

To allow users to mint and burn tokens, you must create Policy rules to govern these transaction types. You can set up rule parameters for minting and burning tokens in the same way that you configure rules for other types of transactions. Use the Mint or Burn operation types when creating rules for minting and burning tokens.

Learn more about creating Policy rules for minting and burning.

Contract call rules

EVM-compatible blockchains require smart contracts for tokenization. To allow users to create and deploy smart contracts, you must create Policy rules to govern these transaction types. You can set up rule parameters for creating and deploying smart contracts in the same way that you configure rules for other types of transactions. Use the Contract Call operation type when creating rules for smart contracts.

Learn more about creating contract call rules for tokenization.