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The new valuation comes in conjunction with Fireblocks’ Series E funding round, in which it raised $550m from an investor group co-led by hedge fund D1 Capital Partners and Spark Capital. Its product enables financial institutions, including Bank of New York Mellon, BlockFi and eToro, to provide direct custody of digital assets.
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“Right now, Fireblocks is the number one and the go-to provider for any institution that is looking to have some exposure to DeFi. Out of our 800 clients, about 200 are actually using our DeFi extensions that connect them to different protocols,” he said.
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