Paradigm- and Galaxy Digital-backed custodian Fireblocks raises $133 million

The institutional-investor-focused blockchain startup Fireblocks closed its Series C financing round at $133 million.

Today, we are thrilled to announce that Fireblocks has raised $133 million in Series C funding AND @BNY has committed to working with Fireblocks to shape the future of digital assets. 1/4 pic.twitter.com/eY7WupjFWy

— Fireblocks (@FireblocksHQ) March 18, 2021

Ribbit Capital, Stripes, Coatue, as well as Galaxy Digital, Swisscom Ventures and Paradigm participated in the round. They backed Fireblocks at an earlier stage in November.

Strategic investors in the current round were Silicon Valley Bank and the BNY Mellon holding company. The latter announced in February plans to add Bitcoin operations and other cryptocurrencies to its services. Assets held in custody by the bank amount to $41.1 trillion.

Total funding raised by the company amounted to $179 million.

“Fintech startups and banks need not only infrastructure for custody and settlement, but also the ability to create new digital offerings. Investor support will enable the growth of the client base.”, — said Fireblocks CEO Mikhail Shaulov.

Investors taking part in the round view Fireblocks as a crucial link in the developing digital assets industry.

“We are on the cusp of the greatest transformation the global financial system has ever seen. Solutions like those developed by Fireblocks will play a decisive role in driving innovation.”, — said Miki Malka, managing director of Ribbit Capital.

In March, PayPal announced plans to acquire Curv, a provider of cryptocurrency custody infrastructure.

Earlier, the institutional-focused cryptocurrency custodian Anchorage raised $80 million in funding, and the service Komainu received $25 million in a Series A round.

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