a.i & blockchain

fireblocks raises $310 million and is valued at $2 billion

fireblocks, a platform that allows banks and other financial institutions to store, move and issue cryptocurrencies, said it raised $310 million in fresh capital from investors. the company’s valuation has risen to $2 billion. fireblocks has raised $489 million from investors including sequoia capital, stripes, spark capital, coatue, drw venture capital and scb 10x. the company hopes to work with traditional financial institutions and bring assets to the bitcoin-like system.

as crypto becomes increasingly important, we are seeing an explosion of companies that handle digital assets, including crypto-native companies, fintech companies, neobanks and traditional financial institutions,” said ravi gupta. the financial sector has been adopting blockchain technology at a fast pace, with the banking sector identified as the industry most suited to use blockchain.

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