Fireblocks Secures $30M in Series B Funding, Plans Global Expansion in Digital Asset Ecosystem

Fireblocks Secures $30M in Series B Funding, Plans Global Expansion in Digital Asset Ecosystem 

Fireblocks, a leading platform in digital asset custody and transfer, has successfully closed its Series B funding round with $30 million, bringing its total funding to $46 million. The funding round was led by Paradigm, with contributions from Cyberstarts, Tenaya Capital, Swisscom, Galaxy Digital, Digital Currency Group (DCG), and Cedar Hill Capital. This new capital injection sets the stage for Fireblocks to accelerate its innovations in digital payments, banking, and secure transaction solutions globally.

A Milestone Achievement: Fireblocks at the Forefront of Digital Asset Innovation

Leading the Digital Asset Revolution

Since its launch in June 2019, Fireblocks has revolutionized the digital asset ecosystem by simplifying secure custody, transfer, and settlement for enterprise and institutional clients. Its MPC-based wallet infrastructure and robust network have powered over $150 billion in digital asset transfers, with 160+ active institutional participants worldwide, including major liquidity providers like Galaxy Digital, B2C2, and Amber Group.

Fireblocks has become the backbone for organizations such as Revolut, Celsius, BlockFi, PrimeTrust, Genesis, and Nexo, enabling these companies to scale and innovate new digital asset services.

Key Investor Support and Industry Vision

The Series B funding round was led by Fred Ehrsam, co-founder of Paradigm and a prominent figure in the crypto space as a co-founder of Coinbase. Ehrsam emphasized Fireblocks’ pivotal role in the industry:

“Fireblocks has become the go-to for any business looking to build new digital asset operations or scale existing ones. The extraordinary growth of the Fireblocks Network attests to the enormous value they have unlocked for enterprise and institutional customers.”

Ehrsam’s addition to the Fireblocks Board of Directors reinforces the company’s focus on driving the adoption of secure, enterprise-grade crypto infrastructure globally.

Explosive Growth and Global Expansion

Unprecedented Market Growth

Fireblocks has achieved remarkable growth, reporting a 533% increase in customer growth in Q3 2020 alone. Its unique solutions have eliminated the complexities and high costs associated with launching and scaling digital asset services, empowering institutions to seamlessly connect with trading venues, liquidity providers, lending desks, and crypto-native applications.

Strategic Team Expansion

To support its rapid growth trajectory, Fireblocks has bolstered its leadership by appointing Matt Maloney as SVP of Global Sales. Maloney, formerly with Cisco, brings extensive experience to drive Fireblocks’ sales and customer success initiatives. The company plans to further expand its product, engineering, and customer success teams, focusing on innovation and client-centric solutions.

Innovations in Secure Digital Asset Infrastructure

MPC-Based Wallet Infrastructure

Fireblocks’ Multi-Party Computation (MPC) technology provides an advanced layer of security for managing digital assets, enabling businesses to execute secure transactions with reduced risks.

Fireblocks Network

The Fireblocks Network connects financial institutions to a comprehensive digital asset ecosystem, fostering seamless liquidity, real-time settlement, and enhanced collaboration.

Client Success Stories

• Revolut: Leveraged Fireblocks to expand its digital currency offerings to millions of users.
• Celsius: Utilized the platform to secure and manage its rapidly growing crypto lending operations.
• BlockFi: Scaled its lending and asset management services with Fireblocks’ infrastructure.

Looking Ahead: A Vision for Global Innovation

Fireblocks is on track to expand its reach across Asia, Europe, and North America, addressing the increasing demand for secure and scalable digital asset solutions.

Plans for the Future

• Enhancing Security: Continue advancing its proprietary security infrastructure to mitigate risks in digital transactions.
• Expanding Global Services: Empower innovations in digital payments, banking, and cross-border transactions.
• Driving R&D: Invest heavily in research and development to maintain its position as a leading innovator in the digital asset ecosystem.

Michael Shaulov, CEO of Fireblocks, noted:

“The digital asset market is evolving rapidly across the globe. This new funding allows us to further enhance our product innovation and customer growth, enabling institutions to scale their digital asset operations securely and efficiently.”

Conclusion

Fireblocks’ $30 million Series B funding marks a significant milestone in the evolution of digital asset infrastructure. As a trusted partner for institutions worldwide, Fireblocks is poised to drive innovation and reshape the landscape of digital payments, custody, and secure asset transfer.

With robust technology, a growing network, and a clear vision, Fireblocks is setting the standard for the secure and scalable management of digital assets in the global financial ecosystem.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.