Fireblocks Raises $133 Million to Bring The World’s Biggest Banks and FinTechs into Crypto
Fireblocks (www.fireblocks.com), announced today it has raised $133 million in Series C funding led by Coatue, Ribbit, and Stripes with strategic investment from The Bank of New York Mellon ( “BNY Mellon”) and SVB. The completion of this round of financing, which includes participation from previous investors, including Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures, makes Fireblocks the most well-funded crypto infrastructure provider in the industry with a cumulative total of $179 million raised to date. With the new injection of funds from strategic investors, Fireblocks will continue to expand global resources to service the world’s biggest banks and fintechs and connect them to the entire crypto capital markets.
With bitcoin topping $1 trillion in market value, banks and fintechs around the world are faced with overwhelming demand from customers and investors to enable digital asset products and services. Now, Fireblocks will offer banks and traditional financial institutions the ability to seamlessly plug into the broader decentralized finance ecosystem and all of its market participants. Using Fireblocks’ platform, banks and fintechs can rapidly deploy custody, tokenization, asset management, trading, lending and payment solutions across public and private blockchain networks.
“Fintechs and banks require not only a specialized custody and settlement infrastructure to ensure customers funds are safely managed, but a platform that enables new lines of digital offerings,” said Michael Shaulov, CEO of Fireblocks. “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 replatform 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.“
Fireblocks began with serving crypto-native institutions and exchanges, and has grown over the last three years to become the first and only institutional digital asset transfer and wallet network trusted to secure more than $400 billion assets for its customers. Strategic investor, BNY Mellon, the world’s largest asset servicer, announced earlier this year their commitment to accelerate the development of enterprise solutions to service the rapidly evolving digital asset space.
“Developing products to bridge digital and traditional assets is foundational to the future of custody,” said Roman Regelman, Chief Executive Officer of Asset Servicing and Head of Digital at BNY Mellon. “Following significant due diligence and market research, we recognize Fireblocks as a market leader in providing secure technology to support digital asset services.“
“Our partnership with Fireblocks is consistent with our belief that a new financial ecosystem is emerging and that companies like Fireblocks are essential,” said Kris Fredrickson, Managing Partner at Coatue. “We have been thoroughly impressed with Fireblocks’ team, technology, and vision for the future. We believe that Fireblocks can help set a new industry standard for companies looking to participate in the digital assets industry.”
“We are standing at the cusp of the biggest transformation that the world’s financial system has ever seen,” said Micky Malka, Managing Director of Ribbit Capital. “Fireblocks is standing right at the forefront of this revolution, and we believe that their technology will play a critical role in driving tremendous innovation in the financial sector for decades to come. We are excited to join their team and help fuel their exciting journey ahead.”
“Fireblocks has built the most powerful technology stack for anyone that’s looking to get into the digital asset business,” said Ken Fox, Founder and Managing Partner of Stripes Group. “Fireblocks is leading the breakthroughs in MPC wallets, settlement network and access to DeFi and tokenization services. It has the versatility that banks and fintechs need to continue competing in this market.”
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology. They have secured the transfer of over $400 billion in digital assets and have a unique insurance policy that covers assets in storage & in transit.