Fireblocks, a US-based developer of digital asset management technology, has pulled in $30m through a series B round that included telecommunications company Swisscom.
The round was led by crypto-focused investment firm Paradigm while venture capital fund Cyberstarts, VC firms Tenaya Capital and Digital Currency Group, digital asset-focused investment manager Galaxy Digital and investment adviser Cedar Hill Capital also participated.
Fireblocks provides a digital asset platform which allows customers to safely store, transfer and issue digital assets such as cryptocurrencies and tokens. It has processed over $150bn of digital asset transfers for customers across Asia, Europe and North America since its June 2019 launch.
The new funding will be used to grow Fireblocks’ research and development, marketing and sales teams. It will also look to expand its services internationally in the new year.
The company raised $16m in a June 2019 series A round backed by Swisscom Ventures and Eight Roads Ventures, a subsidiary of investment and financial services group Fidelity, in addition to Cyberstarts, Tenaya Capital and MState.
Fireblocks CEO Michael Shaulov said: “By removing the complexities and costs associated with launching and expanding into new business streams that deal with digital assets and cryptocurrencies, we have seen a 533% increase in customer growth in Q3 as well as traction and adoption with some of the biggest and most innovative companies in finance.”