Fireblocks Surges 30M in Series B Funding

by in DeFI News

Fireblocks fund

Digital asset custody protocol Fireblocks scored $30 M in Series B funding managed by investment organization Paradigm. Among other participants were Fireblocks' present supporters. Paradigm co-creator Fred Ehrsam has entered Fireblocks' executive board.

Fireblocks aims to use the fund in order to develop its staff and framework. The company plans to increase its developing team to 100 employees in the following 3 months by hiring professionals from different fields. The project's scaling plans appear as it keeps attracting interest from investors.

Fireblocks is a business-class protocol offering a safe system for transferring, stocking, and distributing digital tokens. The firm currently serves more than 120 commercial clients. After introducing its infrastructure last year in June, the firm has secured a total of about $150 B in cryptocurrencies.

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In the coming year, Fireblocks also intends to explore modifications in electronic payments and other financial services among other similar areas. Fireblock's entire fond amount is $46 M, $16 M of which was raised in Series A.