Fireblocks raises $133m to bring banks and FinTechs into crypto

Crypto infrastructure provider Fireblocks has raised $133m to fuel its efforts towards providing traditional banks and FinTechs with digital asset custody, transfer and settlement infrastructure.

The Series C round was led by Coatue, Ribbit, and Stripes with strategic investment from The Bank of New York Mellon and SVB as well as financing from crypto investing mainstays such as Fred Ehrsam’s Paradigm and Mike Novogratz’s Galaxy Digital.

The New York City-based company, which raised $30m in a November 2020 Series B, has nearly doubled its customer projections for the last three quarters, it said.

With the current round, the total funds raised by the firm since its launch comes to $179m. Furthermore, the institutional digital asset transfer and wallet network secured more than $400bn worth of assets for its customers, it said.

Fireblocks which allows financial institutions to safely move, issue and store cryptocurrencies to crypto-native institutions and exchanges, aims to aid more traditional banks to cater to the escalating demand for digital asset products and services.

Commenting on the firm’s plans, Fireblocks CEO Michael Shaulov said, “FinTechs and banks require not only a specialised custody and settlement infrastructure to ensure customers funds are safely managed but a platform that enables new lines of digital offerings.

“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.

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