Fidelity-backed cryptocurrency company that manages cryptocurrency transactions Fireblocks has raised $133 million in a Series C fundraising round from Bank of New York Mellon Corp, Coatue Management, Ribbit Capital, Stripes and SVB Capital. The latest round of investments brought the company's valuation to $1 billion.
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Fireblocks CEO, Michael Shaulov, claims 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."
"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," he added.
With the investments, the company will continue growing its customer support and account management teams to onboard users with the speed they require, regardless of their ambitious goals or timeline, Fireblocks wrote in an announcement.
In October last year, iHodl reported that Revolut, a British fintech company, entered into a partnership with Fireblocks to add more advanced crypto features "as the space continues to evolve at breakneck speed."
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