Blockchain unicorn Fireblocks raises $310M



Blockchain infrastructure supplier and crypto custodian Fireblocks has secured one other $310 million in strategic investments, bringing its complete valuation to $2 billion and marking one other main milestone for the corporate.

Michael Shaulov, CEO of Fireblocks, advised Cointelegraph that the funding would go towards increasing inside capability, together with rising the analysis and growth and help groups. “As well as, we’re aggressively increasing into markets comparable to EMEA and APAC, and we are going to use funds to develop our go-to-market group,” Shaulov stated, including that Fireblocks will place much more emphasis on strategic partnerships.

Since launching in 2019, Fireblocks has raised a cumulative $489 million from main blockchain enterprise companies. As Cointelegraph reported, the corporate secured $133 million in Sequence C financing in March of this yr.

Infrastructure options supplied by Fireblocks have been adopted by over 500 establishments, together with cryptocurrency exchanges, hedge funds, market makers and over-the-counter buying and selling desks. A few of its enterprise companions embrace BlockFi, eToro, Galaxy Digital, Celsius and Crypto.com.

Associated: Aave to launch permissioned deployment for establishments in July

When requested about the important thing drivers behind cryptocurrency adoption and whether or not they’ve modified amid the bull market, Shaulov stated:

“We’ve seen a sure maturity within the area and the event of tasks using blockchain know-how […] exterior of the crypto native area. We’re working with a variety of monetary companies companies world wide to broaden use-cases relating to tasks for digitization of currencies, securities and different actual belongings.”

Fireblocks was a key participant in growing safe pockets infrastructure for Diem, a forthcoming fee community backed by Fb. The pockets was designed to permit monetary establishments to facilitate transactions instantly on the Diem community. Fireblocks can be supporting DeFi cash market Aave in its quest to carry a permissioned model of its platform to institutional traders.

Enterprise capital companies have poured billions into blockchain-focused startups this yr, reflecting pent-up investor demand for rising applied sciences. What’s extra, the funding rounds haven’t slowed regardless of a historic plunge in crypto-asset costs since Could.

Associated: FTX smashes crypto funding report with $900M elevate to grow to be change decacorn