December 3, 2021

Institutional crypto transfer service Fireblocks attracted …

Institutional Crypto Transfer Service Fireblocks Raises Funding Fidelity

Fireblocks, a platform for safeguarding crypto assets during their transfer, raised $ 16 million in Series A fundraising from investors such as Cyberstarts, Tenaya Capital and Eight Roads, the latter being a division of the financial company Fidelity Investments. Fireblocks intends to use the funds received to improve its own infrastructure and attract new customers to its offer, writes CoinDesk.

Institutional Crypto Transfer Service Fireblocks Raised Funding Fidelity A platform to secure ...

Several well-known firms already use Fireblocks services, including Mike Novogratz’s cryptocurrency bank Galaxy Digital and the Genesis Global Trading OTC platform. Using the services of the company, they transfer their assets between exchanges, to wallets of OTC brokers, hot and cold wallets..

Fireblocks solutions address key risks in the transfer of cryptocurrency assets, such as theft of private keys, spoofing and data compromise. The main product of the company is a cloud platform that eliminates the need to copy and paste private keys and organizes direct transfer of funds..

Institutional Crypto Transfer Service Fireblocks Raised Funding Fidelity A platform to secure ...

The platform will use multiple layers of security, including passwords, biometrics, and two-factor authentication. Financial institutions working with the service, such as Fidelity, can themselves adjust the level of access for their employees and traders to various funds on the platform and scenarios for their use..

Institutional Crypto Transfer Service Fireblocks Raised Funding Fidelity A platform to secure ...

Fireblocks, which unveiled its product last quarter, claims that hundreds of millions of dollars of digital asset transactions have already gone through its services. The company works with 15 cryptocurrency exchanges and supports over 180 assets.

In May, Fidelity presented the results of its own research, according to which 22% of institutional investors are already involved in working with digital assets..

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