Fireblocks

Fireblocks provides a suite of products designed to facilitate the secure handling of digital assets. Its offerings include the Fireblocks Network, a highly connected institutional network for fast and secure on-chain settlement, and the MPC wallet-as-a-service, a proprietary protocol that enables transaction speeds up to 8x faster than the industry average. Other services include tokenization capabilities, compliance solutions for Know Your Transaction (KYT), Anti-Money Laundering (AML), Travel Rule requirements (a governance and policy engine), and access to decentralized finance (DeFi) applications with enterprise-grade protection.

The platform also features a new payment suite, which allows the launch of new merchant services​​. Fireblocks allows enterprises to establish in-house custody services, consolidate assets into stablecoins or security tokens, and configure transaction workflows. The platform has also received SOC 2 Type II certificates, undergoes regular penetration testing, and has insurance policies that offer an added layer of protection. In June 2023, Fireblocks expanded its multi-party and self-custody (MPC-CMP) walle t and key management technology to include support for hardware security modules (HSM) and public and private cloud including Thales, Securosys, AWS, GCP, and Alibaba Cloud. These deployment models enable banks and financial institutions to leverage the company’s technology stack to satisfy risk, compliance, and regulatory requirements when deploying their own digital asset projects. In September 2023, Fireblocks acquired BlockFold , an Australian asset tokenization platform, for USD 10 million to expand its capabilities in tokenization.

Key customers and partnerships

As of June 2023, Fireblocks has served over 250 clients, including institutions such as BNY Mellon and Revolut, as well as various banks, FinTechs, exchanges, and hedge funds. Since its launch and up to June 2023, Fireblocks has transferred nearly USD 700 billion in digital assets, reflecting a significant increase over the previous year​.

In terms of partnerships, Fireblocks integrates with Kiln and Figment to allow tokens to be delegated directly from the Fireblocks platform to institutional-grade staking validators. The company also provides secure access to liquid staking dApps such as Lido, Rocket Pool, Frax, and more​​. In July 2023, Fireblocks launched an integration with Astar Network, a Japan-based smart contract platform, to enable its banking and institutional clients to trade, swap, and lend digital assets on Astar via Fireblocks.

Funding and financials

The company raised USD 550 million in Series E funding in January 2022 at a valuation of USD 8 billion. The round was co-led by D1 Capital Partners and Spark Capital. The proceeds were used to accelerate global customer acquisition, along with investment in innovation efforts relating to DeFi, NFTs, and payments.