Booming Growth in Crypto Transfer Services
Fireblocks is not just another name in the crypto space; it’s currently moving more than $2.5 billion in cryptocurrencies each month! That’s right, billion with a B! In their latest press release dated November 26, the company flaunted a staggering 400% growth in customer numbers and a 150% month-on-month increase in crypto transfer volumes since their big reveal in June.
Stepping Out of the Shadows
After quietly securing $16 million in funding, Fireblocks emerged from stealth mode, and boy, did they hit the ground running! In just six months, reputable clients like Galaxy Digital and Genesis Global Trading have started utilizing Fireblocks’ state-of-the-art services for their digital asset management. Talk about credibility!
What Makes Fireblocks Stand Out?
So, what’s the secret sauce? According to CEO and co-founder Michael Shaulov, it’s their unique Secure Transfer Environment. While he acknowledges there are other solid institutional wallet options, he emphasizes that Fireblocks offers ultra-secure accounts linked to a high-speed payment network. This means financial institutions can transfer assets between exchanges and counter parties quickly and safely. Fast, fun, and secure!
Investments Fueling Innovation
Their June Series A funding included backing from notable players like Cyberstarts and Fidelity INTL’s EightRoads. Shaulov’s vision was clear: simplify the process of transferring funds into just a couple of steps while enhancing security. As he succinctly points out, “Moving digital assets is a nightmare.” After chatting with over 100 institutional clients, they identified the standard transfer process as a slow-moving target vulnerable to cyber attacks.
Growing Integration and Support
Starting with just 15 digital asset exchanges, Fireblocks has expanded their network to include 23 exchanges. They now support over 180 cryptocurrencies, tokens, and stablecoins, making their platform highly versatile and reliable. Who knew securing digital assets could be such a dynamic ride?
