Cryptocurrency infrastructure provider Fireblocks has raised $133 million in a Series C funding round led by VC firms Coatue, Ribbit and Stripes, Fireblocks said in a press release shared with The Chain Bulletin on 18 March.
According to the announcement, the funding round — which brought Fireblock’s total funding to $179 million since its launch — was also joined by previous investors, including Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures. The firm also saw a strategic investment from the Bank of New York Mellon (BNY Mellon) and Silicon Valley Bank (SVB).
The newly acquired funds will not only help Fireblocks remain an independent technology provider, but also allow it to expand its settlement infrastructure and onboard new clients. The firm has claimed to have more than 200 financial institutions as its clients, and to have transferred $400 billion in digital assets since it was established on behalf of its customers. The CEO of Fireblocks, Michael Shaulov, said in a statement:
“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. 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.”
Founded in 2018, Fireblocks allows banks and fintech firms to rapidly deploy custody, tokenization, asset management, trading, lending and payment solutions across public and private blockchain networks.
Earlier this year, Fireblocks partnered with Staked and Blockdaemon to offer staking rewards for Polkadot, Tezos, and Eth 2.0, after an increase in demand from customers requesting staking services. In February, the firm also partnered with the now rebranded Libra network, Diem, to provide a secure infrastructure for financial institutions to connect to the Diem network.