Blockchain
Fireblocks Surpasses $100 Million ARR Milestone, Cementing Its Status as SaaS Centaur
Fireblocks (www.fireblocks.com), an easy-to-use platform to create innovative products on the blockchain and manage day-to-day crypto operations, announced today that its 2022 Annual Recurring Revenue (ARR) has surpassed $100 million just four years after the company’s inception and three years since Fireblocks’ first product went into market. This achievement places Fireblocks among a rare subset of SaaS unicorns — including Slack and Twilio — that have reached this coveted valuation milestone in less than five years.
Founded on a mission to enable every business to easily and securely support digital assets and cryptocurrencies, Fireblocks’ explosive growth runs congruent to the overwhelming interest in decentralized finance, blockchain, and Web3 technologies from the world’s largest banks, consumer brands, gaming companies, fintechs, startups, and enterprises.
“For the digital asset industry, 2022 has been a year of consolidation as well as tremendous growth,” said Fireblocks Co-founder and CEO, Michael Shaulov. “We saw an unprecedented volume of new market entrants, including fintechs, Web3 startups, banks, and PSPs. Because of Fireblocks’ MPC custody and treasury management technology, which has become one of the most fundamental pieces of infrastructure for the digital asset ecosystem, we have seen first-hand the innovation happening among fintechs, Web3 start-ups, banks, and PSPs who are diligently bringing new digital asset products to market. We will continue growing our secure and scalable product suites to meet this market demand and support every business joining the decentralized economy.”
“Fireblocks’ growth is a testament to the quality of its product and the dedication of the team building it,” said Michelle Bailhe, Partner at Sequoia. “As crypto becomes increasingly integrated into global financial infrastructure, Fireblocks will continue to grow in importance, enabling businesses to deliver secure crypto products for customers around the world, ranging from crypto and fintech startups to large financial institutions.”
Fireblocks is the only platform that eliminates a single point of failure and insulates digital assets from cyberattacks, internal collusion, and human error using a patent-pending multi-layer security approach. As digital assets and crypto enter into mainstream consciousness, Fireblocks’ MPC-CMP technology has become widely adopted by some of the world’s most recognized institutions and cutting-edge start-ups such as BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Animoca Brands, and Wirex. In 2022, over 1,500 organizations deployed Fireblocks’ technology to protect customer and investor funds, strengthen digital asset security, and streamline day-to-day crypto operations.
“Essentially, businesses — from startups to enterprises — reach out to Fireblocks in order to maximize security in their technology stack so that they may focus on their core competencies: building innovative services and products for their customers while maintaining agility and the ability to react quickly to headwinds,” said Idan Ofrat, Fireblocks’ Chief Technology Officer and Co-founder. “As we look to the future, we are committed to delivering the same secure, easy-to-use and scalable solution for emerging market entrants and use cases such as stablecoin issuance, NFT treasury management, and crypto payments.”
“Fireblocks offers critical infrastructure for a wide range of companies looking to build out digital asset operations, including games, fintechs, banks and more,” said Arjun Balaji, an Investment Partner with Paradigm. “At Paradigm, we’re committed to supporting organizations like Fireblocks that empower developers and ultimately make Web3 more user-friendly and secure.”
Stay in the know and subscribe to Fireblocks’ Weekly Newsletter, Fireblogs, here https://www.fireblocks.com/blog/.
Learn more about how Fireblocks can power your digital asset business here: https://www.fireblocks.com/.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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