Fireblocks, a leading enterprise-level platform that provides a secure infrastructure for transferring, storing and issuing digital assets, announced that it has raised $ 133 million in Series C funding led by Coatue, Ribbit, and Stripes with strategic investments from The Bank of New York Mellon (BNY Mellon) and SVB.
The completion of this round of funding, which includes participation from past investors including Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures, makes Fireblocks the best-funded crypto infrastructure provider in the industry with a cumulative total of $ 179 million raised to now, the company said in a statement.
With the new injection of funds from strategic investors, Fireblocks will continue to expand its resources globally to serve the world’s largest banks and fintechs and connect them to the entire crypto capital markets.
Now that bitcoin has crossed the $1 trillion mark in market value, banks and fintechs around the world are inundated with demands from customers and investors to enable products and services for digital assets. Fireblocks now allows banks and traditional financial institutions to connect seamlessly with the wider decentralized financial ecosystem and all of its market participants. Using the Fireblocks platform, banks and fintechs can quickly implement solutions for custody, tokenization, asset management, trading, lending and payment across public and private blockchain networks.
“Fintechs and banks need not only a specialized custody and settlement infrastructure to ensure that clients’ funds are securely managed, but also a platform that enables new lines of digital offering,” said Michael Shaulov, CEO of Fireblocks .”While we have no plans to become a bank, we believe our infrastructure lends itself perfectly to drive a whole new era of financial services. We are honored that the top VCs in Fintech and key strategic partners support our mission to reformulating the financial ecosystem into digital assets. Their financial backing ensures long-term stability, technological superiority and service to our exponentially growing customer base. “
Fireblocks began serving crypto-native institutions and exchanges, and over the past three years has grown to become the first and only institutional digital asset and wallet transfer network that has the confidence to secure more than $ 400 billion in assets for its clients Strategic investor BNY Mellon, the world’s largest asset manager, announced earlier this year that it was accelerating the development of business solutions to serve the rapidly evolving digital asset space.
“Developing products to bridge digital and traditional assets is fundamental to the future of custody,” said Roman Regelman , Chief Executive Officer of Asset Servicing and Head of Digital at BNY Mellon. “After significant due diligence and market research, we recognize Fireblocks as the industry 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 are deeply 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 on the brink of the greatest transformation the global financial system has ever undergone,” said Micky Malka , Managing Director of Ribbit Capital . “Fireblocks are at the forefront of this revolution and we believe their technology will play a vital role in driving tremendous innovation in the financial industry for decades to come. We are delighted to join their team and help them in their exciting journey. “
“Fireblocks has built the most powerful technology stack for anyone 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 stay competitive in this market.”
Fireblocks enables banks, fintechs, exchanges, liquidity providers, OTCs and hedge funds to securely manage digital assets for a wide variety of products and services. The technology consists of the Fireblocks Network and the MPC-based Wallet infrastructure. Fireblocks serves more than 200 financial institutions and has secured more than € 400 billion in digital assets. Fireblocks has a unique insurance policy that covers assets in storage & transit and offers 24/7 global support.
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