This funding has boosted the company’s valuation to US$2 billion, bringing its status as a crypto unicorn.
Digital asset custodian Fireblocks has raised US$310 million in a Series D Funding round co-led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC and SCB 10X.
The latest funding round also witnessed participation from the venture arm of Thailand’s oldest bank, Siam Commercial Bank, whose investment marks the third global bank to invest in Fireblocks alongside BNY Mellon and SVB Capital.
This funding has boosted the company’s valuation to US$2 billion, bringing its status as a crypto unicorn.
“As crypto becomes increasingly important, we are seeing an explosion of companies that handle digital assets, including crypto-native companies, fintech companies, neobanks and traditional financial institutions,” said Ravi Gupta, Partner at Sequoia Capital.
“The secure storage and transfer of digital assets will be core to all of these businesses, and Fireblocks is positioned to become the infrastructure for companies to secure and move digital assets. The visionary team at Fireblocks is providing critical infrastructure to a new financial world and we’re thrilled to be their partner,” Ravi added.
The Fireblocks platform propagates the expansion of digital asset use cases beyond bitcoin into payments, gaming, NFTs, digital securities and ultimately allows any business to become a digital asset business.
Fireblocks’ technology can be white labeled for crypto custody solutions, allowing new and established financial institutions to implement direct custody on their own without having to rely on third parties. In June, US-based digital bank and digital asset custodian FV Bank partnered with Fireblocks as infrastructure partner for its digital asset custody services.
