Crypto infrastructure provider Fireblocks completes $310m funding round

The fundraise brings Fireblocks' valuation up to $2 billion and secures its unicorn status

FireBlocks – an infrastructure and custody platform for institutions – announced today it has raised $310 million in a Series D funding round.

The round of funding secures FireBlocks’ coveted unicorn status with a $2bn valuation.

Since November, the platform had previously raised assets in two earlier funding rounds. Following the third round, FireBlocks has now raised $489m in venture capital.

The co-leaders of the funding round include an array of prolific investors, such as Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC and SCB 10X – the venture arm of Thailand’s oldest bank – Siam Commercial Bank.

SCB’s participation now marks the third global bank to invest in Fireblocks following previous investments from BNY Mellon and SVB Capital. 

The Fireblocks platform provides infrastructure, asset custody and ecosystem that enables institutions and businesses to become digital asset businesses. FireBlocks has now been adopted by more than 500 institutions and secures over one trillion dollars in digital assets for many of the world’s biggest banks, crypto-native exchanges and hedge funds like BlockFi, Celsius, Galaxy Digital, Genesis Trading, crypto.com, eToro and others.

“We’re thrilled to be able to expand our company and infrastructure through this new injection of funds,” said Michael Shaulov, CEO of Fireblocks.

“The growth we’ve seen to date is a reflection of all parties involved, at every stage.

“As it stands, our technology has stood out in the space since the company’s inception, and its success rate has been evident.

“Looking ahead into the growth of the industry, there is massive potential for us to continue stepping in and being a trusted partner to financial institutions and other organisations looking to enter the space safely and seamlessly.”

FireBlocks also noted that a portion of the new funding will be used to expand customer success operations and invest in R&D resources that can extend the platform’s ‘throughput, scalability, and performance’.

FireBlocks are also working on a new and extensive program to simplify interaction with the platform and the reliability of its critical infrastructure to clients.

The fundraise matches the recent demand from institutional investors in cryptocurrency and DeFi platforms. Aave, a market-leading lending and borrowing platform, will use FireBlocks for its upcoming “Aave Pro” platform, which will provide institutional investors with access to decentralised markets.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

telegram

Previous Article

What is Chia Network?

Next Article

Mastercard to launch new crypto and blockchain program

Read More Related articles

Latest Guides

Find in-depth articles, guides and videos designed to give you a better understanding of Bitcoin, DeFi, trading, security and much more.

Get started