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Crypto Custodian Raises $133 Million in Series C Funding Including BNY Mellon

BNY Mellon and Silicon Valley bank have injected capital amounting to $133 million in Fireblocks’ Series C funding. Fireblocks aims to expand operations and transform the financial world through the new funding.
Targets Transformation Of Digital World With New Funding
Digital asset custodian, Fireblocks has raised $133 million in a Series C funding. The round was led by tech-focused investment manager, Coatue, Ribbit Capital, and Stripes. According to Fireblocks’ blog post, BNY Mellon and Silicon Valley Bank are the high-profile institutional investors behind the mega-investment.
As it is with Series C funding in the corporate world, Fireblocks targets massive expansion to broaden its reach. In its scaling process, the company intends to seal and maintain strategic partnerships with premier financial institutions “to support their transformation and service the market horizontally.” The company had announced the completion of its Series B funding in November 2020. It raised $30 million, taking its total amount raised to $46 million. San Francisco-based crypto investment giant Paradigm led the funding.
Fireblocks is not left behind as many cryptocurrency companies continue to record massive growth in the wake of growing adoption. The company has kept custody of digital assets for over 200 clients, initiating over $400 billion worth of transactions since its inception in 2018. The latest funding has placed Fireblocks as the industry’s “most well-funded crypto infrastructure provider.” CEO, Michael Shaulov said:
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 …
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