{"id":85166,"date":"2023-09-29T14:42:34","date_gmt":"2023-09-29T11:42:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85166"},"modified":"2025-09-12T21:40:00","modified_gmt":"2025-09-12T18:40:00","slug":"bloomberg-fireblocks-buys-blockchain-startup-blockfold-for-10-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-fireblocks-buys-blockchain-startup-blockfold-for-10-million\/","title":{"rendered":"Bloomberg: Fireblocks buys blockchain startup BlockFold for $10 million"},"content":{"rendered":"<p>The provider of crypto custody services Fireblocks has gained control of BlockFold&#8217;s tokenization platform for $10 million, according to sources familiar with the matter, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-28\/fireblocks-said-to-buy-australian-blockchain-startup-blockfold\">Bloomberg<\/a> reports.<\/p>\n<p>Founded in 2021, BlockFold specializes in working with <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span> on tokenization and smart-contract development.<\/p>\n<p>Company representatives declined to comment.<\/p>\n<p>The acquisition will expand Fireblocks&#8217; capabilities in tokenization, including setup, <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9E%D1%80%D0%BA%D0%B5%D1%81%D1%82%D1%80%D0%BE%D0%B2%D0%BA%D0%B0_(%D0%98%D0%A2)\">orchestration<\/a>, distribution and advisory.<\/p>\n<p>The company had already worked with the startup on several projects, including the National Australia Bank&#8217;s pilot program for cross-border transfer<a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\"> stablecoins<\/a>.<\/p>\n<p>The report noted that the deal came amid rising interest from major Wall Street participants in issuing and trading traditional financial assets as tokens to streamline processes and cut costs.<\/p>\n<p>In March, Citi analysts forecast the capitalization of security tokens<a href=\"https:\/\/forklog.com\/en\/news\/citi-estimates-tokenized-securities-market-at-4-trillion-by-2030\"> to reach $5 trillion<\/a> by 2030. According to the Boston Consulting Group, by that time the market for such assets could grow to <a href=\"https:\/\/web-assets.bcg.com\/1e\/a2\/5b5f2b7e42dfad2cb3113a291222\/on-chain-asset-tokenization.pdf\">$16 trillion<\/a>.<\/p>\n<p>Earlier, Ripple<a href=\"https:\/\/forklog.com\/en\/news\/ripple-agrees-to-acquire-crypto-custodian-metaco-for-250-million\"> acquired<\/a> the Swiss-based crypto custodian Metaco.<\/p>\n<p>In June, ConsenSys<a href=\"https:\/\/forklog.com\/en\/news\/fireblocks-to-integrate-metamask-institutional-wallet\"> announced<\/a> the integration of the institutional version of the MetaMask wallet with Fireblocks.<\/p>\n<p>In August, the latter<a href=\"https:\/\/forklog.com\/en\/news\/mastercard-launches-cbdc-initiative-with-ripple-and-consensys\"> became a participant<\/a> in Mastercard&#8217;s partnership program to study CBDCs<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDCs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg: The provider of crypto custody services Fireblocks has gained control of BlockFold&#8217;s tokenization platform for $10 million.<\/p>\n","protected":false},"author":1,"featured_media":85167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,1386,1235],"class_list":["post-85166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-fireblocks","tag-mergers-and-acquisitions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85166"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85166\/revisions"}],"predecessor-version":[{"id":85168,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85166\/revisions\/85168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85167"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}