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Fireblocks raises $133m to bring crypto to banks

Fireblocks raises $133m to bring crypto to banks

Crypto infrastructure provider Fireblocks has raised $133 million in a Series C funding round to fuel its efforts to bring traditional banks and fintechs into the digital asset arena.

The round was led by Coatue, Ribbit, and Stripes with strategic investment from The Bank of New York Mellon and SVB.

Fireblocks began life providing the infrastructure for moving, storing, and issuing digital assets to crypto-native institutions and exchanges.

Now it wants to work with more traditional banks and fintechs, which are facing growing demand from customers and investors to enable digital asset products and services.

BNY Mellon itself, recently formed an enterprise-wide digital asset division to help clients invest in crypto markets.

Roman Regelman, CEO, asset servicing and head of digital, BNY Mellon, says: "Developing products to bridge digital and traditional assets is foundational to the future of custody.

"Following significant due diligence and market research, we recognize Fireblocks as a market leader in providing secure technology to support digital asset services."

Michael Shaulov, CEO, Fireblocks, adds: "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.

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