Fireblocks co-founders Idan Ofrat (from right), Michael Shaulov and Pavel Berengoltz (PR Pic)
Fireblocks is an Israeli fintech startup which specializes in cybersecurity. The company’s technology currently secures more than $400 billion in virtual assets. It has raised $133 million in Series C funding led by Coatue, Ribbit, and Stripes with strategic investment from The Bank of New York Mellon ( “BNY Mellon”) and SVB.
Fireblocks states that its tech streamlines operations by bringing a user’s exchanges, OTCs, counterparties, hot wallets, and custodians into one platform. Wallets, deposit addresses, and API credentials are secured using patent-pending chip isolation technology and the newest breakthrough in cryptography (MPC). Institutions are using Fireblocks to move funds securely in seconds – instead of hours.
With the Fireblocks DeFi API and Browser Extension, you can now securely access the full range of DeFi protocols for strategies like decentralized exchange (DEX) trading, lending/borrowing, staking, and yield farming.
–
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Cybersecurity is more important than ever. Hackers are not only motivated by money or politics. They often just like being malicious. So even small companies need to be on their guard and be sure to properly protect their systems. In recent months two different Israeli companies were ransomware attacks by the Black Shadow hackers.
Now that cryptos are so popular people need to be concerned with how to secure it. One of the biggest criticisms of cryptos like Bitcoin is that people cannot not be sure that their money is really safe since it is not stored in a real bank. So this is where firms like Fireblocks come in.
And it’s not alone among Startup Nation cybersecurity startups. Israel’s Curv, which offers a cloud based platform for securely managing cryptocurrencies, was just bought out by PayPal for more than $200 million. Israeli startup Aqua Security and Axonius, an Israeli cybersecurity startup, both recently hit unicorn status valuations above $1 billion.
“Fintechs and banks require not only a specialized custody and settlement infrastructure to ensure customers funds are safely managed, but a platform that enables new lines of digital offerings,” said Michael Shaulov, CEO of Fireblocks. “While we have no plans to become a bank, we believe our infrastructure will lend itself perfectly to power an entirely new era of financial services. We are humbled to have the top VCs in Fintech, and the most important strategic partners support our mission to replatform the financial ecosystem into digital assets. Their financial backing guarantees the long term stability, technology superiority and service delivery to our exponentially growing customer base.”
