Securities Platform Moving up to $2.5B Worth of Crypto a Month Only a While After Launch

Since launching, the New York Based firm counts several leading companies amongst its customers. Namely; Genesis Global - an over the counter digital trading company, crypto merchant banking firm Galaxy Digital, Celsius e.t.c. These companies are implementing Fireblock’s client service for digital asset storage and transfer. The co-founder and CEO of Fireblock’s, Michael Shaulove said: :

"There are other good institutional wallet offerings on the market, but The Fireblocks' Secure Transfer Environment is what makes us so unique [...] The Fireblocks Secure Transfer Environment gives financial institutions an ultra-secure account that connects to a high-speed payment network – this enables the swift and secure movement of blockchain-based digital assets between exchanges, counterparties, custodians, and customers.”

Investing in crypto security

During Fireblock’s June Series A funding, the firm witnessed investment from several notable companies such as Tenaya Capital, Cyber starts, EightRoads (Fidelity INTL), MState and Swisscom Ventures. At the time of the fundraising, Shaulov stated that the platform was meant for securing and simplifying transaction movements; of cryptocurrencies from one step to another. Here is what he had to say while explaining the market need for Fireblocks: 

“While Blockchain-based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber-attacks and human errors.”