Blockchain infrastructure provider and cryptocurrency custodian Fireblocks received another USD 310 million in strategic investment, bringing its total valuation to USD 2 billion, marking another important milestone for the company.
Fireblocks CEO Michael Shaulov told Cointelegraph that the funds will be used to expand internal capabilities, including increasing R&D and support teams. “In addition, we are actively expanding into markets such as EMEA and APAC, and we will use funds to develop our listing team,” Shaulov said, adding that Fireblocks will place more emphasis on strategic partnerships.
Since its launch in 2019, Fireblocks has raised $489 million from leading blockchain venture capital firms.As Cointelegraph reported, the company Received USD 133 million in Series C financing In March this year.
The infrastructure solutions provided by Fireblocks have been adopted by more than 500 institutions, including cryptocurrency exchanges, hedge funds, market makers and over-the-counter trading desks. Some of its business partners include BlockFi, eToro, Galaxy Digital, Celsius and Crypto.com.
When asked about the key drivers behind cryptocurrency adoption and whether they are changing in a bull market, Shaulov said:
“We have seen that projects using blockchain technology have a certain degree of maturity in terms of space and development […] Outside the realm of encryption native. We are collaborating with many financial services companies around the world to expand the use cases for digitalization projects of currencies, securities and other physical assets. “
Fireblocks is a key player Develop a secure wallet infrastructure for Diem, An upcoming payment network, supported by Facebook. The wallet is designed to allow financial institutions to facilitate transactions directly on the Diem network. Fireblocks also supports DeFi currency market Aave in seeking to bring a licensed version of its platform to institutional investors.
Venture capital firms have invested billions of dollars in startups focusing on blockchain this year, reflecting the pent-up demand for emerging technologies from investors. More importantly, despite the historical plunge in the price of encrypted assets since May, the funding round has not slowed down.