Fireblocks Custody raises US$310 million, with a valuation of US$2 billion – Bitcoin News

Blockchain infrastructure company Fireblocks raised US$310 million in the latest round of financing, with a valuation of US$2 billion. The company specializes in the custody of digital assets and is interested in bringing traditional assets into the blockchain field. Fireblocks expects this digital trend to continue to grow in the near future.

Fireblocks raised US$310 million in Series D financing

Fireblocks, a hosting and blockchain infrastructure company, improve D round financing of 310 million US Invest The company’s valuation reached $2.2 billion, and its value has tripled since its Series C financing in February last year. This round of financing has confirmed the participation of six investment companies: Sequoia Capital, Stripes, Spark Capital, Coatue, DRW Venture Capital and SCB 10X, the venture capital arm of Siam Commercial Bank of Thailand.

The company aims to use these funds to bring traditional assets and products to the blockchain. Michael Shaulov, CEO of Fireblocks, said on this issue:

Timing is everything, and I think this is the beginning of the opportunity to truly do this. We have seen quite a few projects, and basically the technology and willingness to do so has reached the highest level of these banks.

Fireblocks claims to have cooperated with more than 70 banks worldwide, providing them with infrastructure to manage cryptocurrency assets, and tokenizing some of their assets for other purposes.Shalov detailed:

Our platform creates highly secure wallets for cryptocurrencies and digital assets, where institutions can store their funds or client funds and obtain security insurance.

Ethereum controversy

Even in the recent cryptocurrency boom, the company has achieved tremendous growth. However, Fireblocks also faces some problems with its Ethereum hosting service. The company was sued last month by Stakehound, a custodial platform that allegedly failed to obtain 38,178 ether due to negligence. At that time, Stakehound statement The loss was actually caused by “human error made by the defendant employee in an inappropriate working environment.”

However, Fireblocks quickly denied its responsibility in the incident.Shalov statement:

“This has nothing to do with the actual services we provide to more than 400 customers. None of our customers’ wallets have been affected, including by the way [Stakehound’s] Wallets, they are still using the wallets we provided to them.

What do you think of Fireblocks’ latest round of financing? Tell us in the comments section below.

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