New York based Fireblocks has closed a $133m round to fund plans to expand its global resources and service the world’s biggest banks and fintechs, connecting them to the entire crypto capital markets.
The Series C round was led by Coature, Ribbit and Stripes, with strategic investment from The Bank of New York Mellon and SVB. Previous investors also particpated, including Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures.
Fireblocks now claims to be the most well-funded crypto infrastructure provider in the industry with a cumulative total of $179m raised to date.
The company explained that 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.
Cue Fireblocks, which will now 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.”
“Developing products to bridge digital and traditional assets is foundational to the future of custody,” added 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.”