Altcoin News

Fireblocks hits $8bn valuation following $550m funding round

Fireblocks – the custody platform behind more than 800 crypto projects – has officially become the world’s most valuable digital asset custodian.

Valued at $8bn, the accolade comes following remarkable success in the latest Fireblocks’ Series E funding round.

$550m was pooled together by some of the biggest players in crypto venture capital – including D1 Capital Partners, Spark Capital, General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund.

The huge cash injection comes amid rapid growth at Fireblocks after posting a 433% leap in customer base last year with more than $2tn in digital asset transactions across more than 30 blockchains.

Fireblocks funding will fuel customer growth

Dan Sundheim, the founder of D1 Capital (a NYC investment firm that led the funding round), was quick to explain the strategic funding injection aimed at onboarding even more clients in 2022.

“Fireblocks has become a key driver of crypto market growth around the world, with an estimated 15% of daily crypto transaction volume secured through their infrastructure,” said Sundheim.

“This new injection of capital will further enable Fireblocks to onboard the next wave of businesses into the digital asset ecosystem.”

Plans are afoot for a strategic expansion – with a focus on broadening alliances, as well as adding to its client base and stakeholders network.