Fireblocks, a US-based platform that allows financial institutions to store, move and issue cryptocurrencies, has raised US$550 million in Series E funding, vaulting its valuation to over US$8 billion.

The funding round, co-led by D1 Capital Partners and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund.

With the new funds, Fireblocks intends to continue its strategic expansion, broaden its alliances, add to its client base and stakeholders, and extend its ecosystem.

With US$2 trillion in digital assets transferred, the Fireblocks’ platform now supports more than 20 blockchains and 1,000 cryptocurrencies,

In the last year, Fireblocks grew from 150 to over 800 customers around the world, with institutions in the Asia Pacific and Europe, the Middle East, and Africa regions.

The Fireblocks Network, which connects members to the crypto capital markets ecosystem and enables instant settlements, is used by customers such as Bank of New York Mellon, Revolut, Galaxy Digital, Crypto.com, BlockFi, Deribit, eToro, CoinShares, SwissBorg, 3AC, B2C2 and more.

To date, Fireblocks customers have amassed US$45 billion assets under custody on the platform.

“The adoption of cryptocurrencies across the financial and commercial sectors is going to accelerate in 2022, and Fireblocks’ mission is to be a strategic partner for these new market entrants.

 

The new round of financing will accelerate our ability to support our clients globally, as well as heavily invest in innovation for DeFi, NFTs and payments, and allow new and established financial institutions to employ direct custody rather than relying on third parties, which will increase their competitive advantage.”

said Michael Shaulov, CEO of Fireblocks.