The round was led by Coatue, Ribbit, and Stripes with strategic investment from The Bank of New York Mellon and SVB Capital. The completion of this round of financing, which includes participation from previous investors, including Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures, makes Fireblocks the most well-funded crypto infrastructure provider in the industry, with a cumulative total of $179 million raised to date, the company said.
Fireblocks says it has grown over the last three years to become the only institutional digital asset transfer and wallet network securing more than $400 billion assets for its customers.
With the new injection of funds, Fireblocks will continue to expand global resources to service the world’s biggest banks and fintechs and connect them to the entire crypto capital markets, the company said.
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. Fireblocks offers banks and traditional financial institutions the ability to seamlessly plug into the broader decentralized finance ecosystem, the company said.
“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."