Fireblocks raises $133 million Series C round led by Coatue, Ribbit and Stripes


Crypto security startup Fireblocks announced the completion of a Series C funding round on Thursday, raising a total of $133 million.

A trio of firms led the Series C, according to Fireblocks: investment manager Coatue, the fintech-focused venture capital firm Ribbit and growth equity firm Stripes. In a reflection of Fireblocks' bid to cater to the banking industry's growing interest and involvement with digital assets, BNY Mellon and SVB Capital participated as strategic investors in the round.

The latest tranche of funding comes months after Fireblocks closed a $30 million Series B round led by crypto VC firm Paradigm. Fireblocks has raised a cumulative $179 million in funding to date, the firm said Thursday. Existing investors of Fireblocks, including Paradigm, Galaxy Digital and Swisscom Ventures, also took part in the Series C round.

"We are humbled to have the top VCs in Fintech, and the most important strategic partners support our mission to replatform the financial ecosystem into digital assets," Fireblocks CEO Michael Shaulov said in a statement. "Their financial backing guarantees the long term stability, technology superiority and service delivery to our exponentially growing customer base."

Fireblocks offers a suite of digital assets services, including custody and transfer, and is among a growing number of industry firms seeking to cater to the institutional customer base. CoinDesk reported last month that BNY Mellon had tapped Fireblocks as part of a plan to hold digital assets on behalf of its customers. 

“Our partnership with Fireblocks is consistent with our belief that a new financial ecosystem is emerging and that companies like Fireblocks are essential,” Kris Fredrickson, managing partner for Coatue, said in a statement.

Interest from banks and other financial institutions has raised the profiles of companies offering digital asset custody. In a sign of the times, PayPal formally announced that it plans to acquire Curv this year. Such developments are taking place against the backdrop of a wider effort in the industry to develop to become so-called prime brokers that can offer a variety of services, including custody, to institutional clients. 



Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post