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Fireblocks
In an initiative filled with fairy talelike accomplishments , Fireblocks may be the Cinderella story among them . While we haven ’ t looked to dwell on the size of investments or valuations in this Global Custodian project , Fireblocks - founded in June 2018 , is now valued at $ 8 billion .
Let that sink in for a moment . In addition , it was recently revealed Fireblocks ’ 2022 Annual Recurring Revenue ( ARR ) has surpassed $ 100 million , just four years after the company ' s inception , as it joined a rare subset of start- up unicorns with 9-figure recurring revenues . So what ’ s the hype about ? Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving , storing , and issuing digital assets . Fireblocks enables exchanges , lending desks , custodians , banks , trading desks , and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure . Just four years into its existence , Fireblocks serves over 1,500 financial institutions , has secured the transfer of over $ 3 trillion in digital assets , and has a unique insurance policy that covers assets in storage & transit . “ Some of the biggest trading desks have switched to Fireblocks because it ' s the only solution that CISOs and Ops Teams both love ,” the firm states . As an early investor in Fireblocks , BNY Mellon executives we ’ ve spoken to seem bowled over by its growth , accomplishments and capabilities . “ Developing products to bridge digital
ELEVATOR PITCH
Fireblocks is a digital asset custody , transfer and settlement platform . MPC- CMP wallet technology . 24 / 7 access .
and traditional assets is foundational to the future of custody ,” said Roman Regelman , CEO of asset servicing and head of digital , BNY Mellon in 2021 , when the custodian invested . “ Following significant due diligence and market research , we recognise Fireblocks as a market leader in providing secure technology to support digital asset services .” Since then , BNP Paribas Securities Services and Standard Chartered ’ s Zodia have worked with Fireblocks on their digital asset ventures . The former will initially use Fireblocks ’ solution on its ongoing experimentation with the settlement and custody of regulated security tokens , and use the firm for its hot wallet , tokenisation and connectively infrastructure layer . For Zodia , its clients will be able to directly connect to the Fireblocks network of more than 1,000 liquidity partners , trading venues , lending desks and counterparties . Access to the platform will enable instant transfers , rebalancing and payments directly from their Zodia Custody wallet . Upon closing its Series E funding , Fireblocks stated : “ We ’ ve now raised $ 1 billion in total , and our funding will be instrumental in empowering organisations around the world to thrive in the digital asset economy . To achieve that , we ’ ll continue to build self-service functionality , enable our customers to deploy the most innovative products , and invest in people who can help our clients on a global scale .” Fireblocks is an organisation where the numbers speak for themselves , and with the investment it has , it is intriguing to consider where Fireblocks could be in another four years .
Notable partners and collaborators : BNY Mellon , BNP Paribas , Six Digital Exchange , ANZ Bank , FIS , Zodia
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