The crypto industry is loving FireblocksHQ! The digital asset custody platform raises $550 million to reach a valuation of $8 billion.
The successive funding rounds have helped Fireblocks expand its service offerings to over 800 institutional clients, including Bank of New York Mellon, Revolut, Galaxy Digital, Crypto.com, BlockFi, SwissBorg, CoinShares, eToro and Three Arrows Capital. As an infrastructure provider, Fireblocks works with crypto exchanges, lenders and other financial institutions to secure, transfer and issue digital assets.
Fireblocks has prioritized the use of multi-party computation, also known as MPC, in providing custody and infrastructure solutions to secure digital assets. When asked about the importance of MPC and why it is utilized so heavily by Fireblocks, CEO Michael Shaulov told Cointelegraph that"MPC removes the single point of compromise without inhibiting the operational arm of the business that is responsible for driving growth.
"When it comes to custody, customers want to wake up in the morning knowing their assets are still there. Security in the digital asset space has evolved over the last few years to provide better control and better transparency — that’s why most of us are using multi-party computation today." Fireblocks' $550 million raise is one of the largest the crypto industry has ever seen in a single funding round. Venture capital firms have poured billions of dollars into blockchain-focused startups over the past 12 months. Funding is showing no signs of slowing despite multiple steep selloffs in crypto prices, as demonstrated by Bitcoin’s (
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