Fireblocks, a digital asset custody, transfer and settlement platform said it raised US$550mln from institutional investors, giving the US company a
Fireblocks, a digital asset custody, transfer and settlement platform said it raised US$550mln from institutional investors, giving the US company an US$8bn valuation and becoming one of the largest cryptocurrency-focused financing rounds in recent years.
The money raised will be used to fund further investment in the digital space, including decentralised finance, non-fungible tokens and entertainment, chief executive Michael Shaulov told Reuters.
D1 Capital Partners and Spark Capital led the funding, with additional investment from General Atlantic, Altimeter and Alphabet’s growth fund.
Fireblocks said it wants to help companies and institutions get into cryptocurrencies and digital assets by providing the necessary infrastructure, including wallets.
A recent report by Gartner, a technology research and consulting company, found that about 20% of firms will utilise digital currency in the next two years, with adoption from large businesses to accelerate from this year.
Dan Sundheim, founder of D1 Capital Partners, said that roughly 15% of daily crypto transactions are secured through Fireblock’s infrastructure.
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