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Fidelity (NYSE:FNF) backs crypto security startup Fireblocks in $16 million Series A fundraising

  • Fireblocks, a startup company specialising in crypto security, raised $16 million yesterday, in Series A funding from investors including Fidelity’s Eight Roads and MState.
  • The startup helps institutional clients transfer coins and other digital assets safely between wallets and exchanges.

The company has already snagged two high-profile clients: Galaxy Digital, owned by Michael Novogratz and Genesis Global Trading, owned by Barry Silbert’s Digital Currency Group.

Michael Shaulov, Fireblocks CEO, explained how the platform works saying:  “It basically provides institutional investors a simple and secure way to transfer assets from their account to any account that they have on other exchanges.”

Fireblocks’ platform is a trailblazer in the crypto-security industry targeting institutional clients.