Fireblocks, a digital asset infrastructure provider, has raised $550 million from institutional investors
Fireblocks, a digital asset infrastructure provider, said on January 27 that it has raised $550 million from institutional investors, becoming one of the largest funding rounds ever. in the crypto space over the past few years.
The latest investment values the company at $8 billion.
The funding was led by D1 Capital Partners and Spark Capital, with participation from investors such as General Atlantic, Altimeter, Index Ventures and CapitalG, Alphabet’s growth fund, Fireblocks said in a statement.
All companies confirmed their investments in emails to Reuters.
Michael Shaulov, CEO of Fireblocks told Reuters in a phone interview.
Decentralized finance refers to the market segment that facilitates financial transactions in cryptocurrencies outside of traditional banks.
On the other hand, non-fungible tokens are the only digital assets that are non-fungible.
Fireblocks works with companies and financial institutions that want to build cryptocurrencies and digital assets, providing the infrastructure – including wallets – to make digital assets safe and secure. .
Shaulov said his company’s goal is to turn every business into a crypto business.
U.S.-based Fireblocks cited a recent Gartner report showing that around a fifth of large institutions will use digital currency by 2024, indicating the adoption of crypto by corporations large will accelerate in 2022 and beyond.
Shaulov said Fireblocks has a network that connects its members to the digital currency capital market and allows instant payments and transfers.
He said Fireblocks aims to facilitate the transfer of funds “in a secure way because a lot of hacking doesn’t happen when you’re storing it but when you’re moving it or selling it.”
According to Dan Sundheim, founder of New York-based D1, an estimated 15% of daily crypto trading volume is secured through the infrastructure of Fireblock, one of the leading investors in the industry. latest funding round.
