Fireblocks, a cryptocurrency custodian service focused on institutional clients, has raised $310 million, bringing the company's valuation at $2 billion, Reuters reports. The Tel Aviv-based company attracted capital from Sequoia Capital, Stripes, Spark Capital, Coatue, DRW Venture capital and SCB 10X.
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"Timing is everything and I think right now it is the beginning of the real opportunity to do it," said Michael Shaulov, Fireblocks CEO.
According to the company's projection, over billion people will be utilizing blockchain wallets by 2022. Fireblocks also found an increase in the number of registered blockchain wallets in Q2 of 2021 at 70 million, which is up from 10.98 million in 2016.
Previously, Fireblocks faced a lawsuit from a cryptocurrency company Stakehound over losing $75 million worth of cryptocurrencies it was entrusted with. Stakehound reportedly entrusted the management of private keys of wallets with balance of 38 178 ETH to Fireblocks.
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