NY-based Fireblocks, a blockchain security service provider for moving, storing and issuing digital assets, raised US$ 133 Million in Series C Funding on 18 March 2021.
Investors: The funding round was led by The Bank of New York Mellon and SVB, with participation from previous investors, Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures. The company has raised US$ 179M to date.
Purpose of the Funding: Fireblocks will utilize the funds for further expansion and to serve the world’s biggest banks and fintechs and connect them to the crypto capital markets.
About Fireblocks
Founded in 2018 by Idan Ofrat, Michael Shaulov and Pavel Berengoltz, Fireblocks protects digital assets in transit, with the main focus on protecting the transmission of customers’ digital assets between exchanges, counter brokers, hot wallets and cold stores. The platform helps banks, exchanges, liquidity providers, fintech and hedge funds to manage digital assets in a secure way.
The demand for digital asset products and services has been increasing rapidly, especially with the rise in the market value of bitcoin. Therefore, banks and other financial institutions are under pressure to meet customer needs. Fireblocks offers them the ability to plug into a broader decentralized finance ecosystem and all of its market participants. The Fireblock platform helps them to deploy custody, tokenization, asset management, trading, lending and payment solutions across various blockchain networks.
What the CEO has to say: “Fintechs and banks require not only specialized custody and settlement infrastructure to ensure customers funds are safely managed, but a platform that enables new lines of digital offerings. While we have no plans to become a bank, we believe our infrastructure will lend itself perfectly to power an entirely new era of financial services. We are humbled to have the top VCs in Fintech, and the most important strategic partners support our mission to re-platform the financial ecosystem into digital assets. Their financial backing guarantees the long-term stability, technology superiority and service delivery to our exponentially growing customer base.” — Michael Shaulov, CEO of Fireblocks.
What the investors have to say: “Developing products to bridge digital and traditional assets is foundational to the future of custody. Following significant due diligence and market research, we recognize Fireblocks as a market leader in providing secure technology to support digital asset services.” — Roman Regelman, Chief Executive Officer of Asset Servicing and Head of Digital at BNY Mellon.
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