Fireblocks company profile: valuation, funding & revenue

This Fireblocks company profile covers the company's valuation, revenue, funding rounds, investors and history. Fireblocks works in crypto and fintech, with a focus on digital asset custody and payments infrastructure. It was founded in 2018 and is headquartered in New York, New York, United States. Its latest valuation on record is US$8 billion (January 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Fireblocks timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2018 — Fireblocks is founded in New York by Michael Shaulov (CEO), Idan Ofrat and Pavel Berengoltz.
• Jul 2021 — Series D: US$310M, valuing the company at About US$2.2B. Investors: Sequoia, Stripes, Spark Capital, Coatue.
• Jan 2022 — Series E: US$550M, valuing the company at US$8B. Investors: D1 Capital Partners and Spark Capital (co-leads).

Investors

Overview

Fireblocks provides the technology that banks, payment companies, exchanges and fintechs use to store, move and issue digital assets securely. Its platform combines wallet infrastructure, a network that connects thousands of institutions for fast settlement, tools for tokenising assets, and policy controls that let organisations decide exactly who can approve which transactions. Rather than holding customers' assets itself, Fireblocks supplies the software that lets institutions run their own secure digital asset operations, which has made it one of the most widely used infrastructure providers in the crypto and stablecoin industry.

Michael Shaulov, the CEO, Idan Ofrat and Pavel Berengoltz founded Fireblocks in 2018. Shaulov and Ofrat previously worked on mobile security at Check Point, the Israeli cybersecurity company, and Berengoltz brought experience in cryptography and security engineering. The company is headquartered in New York with a large research and development centre in Tel Aviv. Its founding idea was that institutions would only adopt digital assets at scale if the security problem, how to protect private keys from hackers and insiders, was solved properly.

The technology: MPC wallets

A crypto wallet is controlled by a private key; anyone who has the key controls the funds. Traditional approaches stored keys on a single device or split them in simple ways, creating a single point of failure. Fireblocks uses multi-party computation (MPC), a cryptographic technique that splits a key into shares held in different places, such as Fireblocks' cloud, the customer's own servers and a mobile device. Transactions are signed by the shares working together without the full key ever being assembled in one place. Combined with hardware isolation and a policy engine that enforces approval rules, this approach greatly reduces the risk of theft. MPC wallets have since become an industry standard, and Fireblocks was one of the companies that brought them to institutional use.

Products

• Wallets-as-a-service: infrastructure for exchanges, fintech apps and banks to offer digital asset wallets to their own customers.
• Treasury and custody: secure storage and movement of an institution's own digital assets.
• Fireblocks Network: a network of thousands of institutions that can settle transfers with each other quickly, reducing the risk of sending assets to the wrong address.
• Tokenisation: tools to issue and manage tokens representing assets such as bonds, funds and stablecoins.
• Payments: infrastructure for businesses to send and receive stablecoin payments across borders.

Customers

Fireblocks says it serves thousands of organisations, including banks such as BNY, payment companies such as Worldpay, fintechs such as Revolut, crypto exchanges, lenders and asset managers. It has said that trillions of dollars in digital assets have been transferred through its platform over its lifetime. That breadth gives it an unusual view of the industry and a network effect: the more institutions join the Fireblocks Network, the more useful it becomes for each of them.

Funding

Fireblocks raised a US$310 million Series D in July 2021 at about US$2.2 billion, with investors including Sequoia Capital, Stripes, Spark Capital and Coatue. Just six months later, in January 2022, it raised a US$550 million Series E at US$8 billion, co-led by D1 Capital Partners and Spark Capital, at the peak of the crypto market. Other backers include Paradigm, Ribbit Capital, Tiger Global and Google. We haven't found a newer priced round, so the data above uses the 2022 valuation. Because many crypto company valuations fell after 2022, readers should treat that figure as historical rather than current.

Business model

Fireblocks charges subscription fees based on the services an institution uses and the volume of activity, with enterprise contracts for large banks and payment companies. Revenue tends to be more stable than that of exchanges, because institutions pay for infrastructure regardless of whether crypto prices rise or fall, though trading volumes still affect demand. The company doesn't publish revenue, so we show it as not disclosed.

Competition

Fireblocks competes with custody providers such as Anchorage Digital, BitGo and Coinbase's institutional business; with wallet infrastructure companies such as Copper and Dfns; with hardware security makers such as Ledger's enterprise unit; and with banks building their own systems. Large banks may also choose to work with established custodians or to build in-house. Fireblocks' advantages are its large network, its security track record and its broad set of integrations with blockchains and exchanges.

Fireblocks at a glance

Fireblocks is a New York digital asset infrastructure company founded in 2018 by Michael Shaulov, Idan Ofrat and Pavel Berengoltz. It provides MPC-based wallets, a settlement network and tokenisation and payments tools to banks, fintechs and exchanges. It raised a US$550 million Series E at US$8 billion in January 2022, co-led by D1 Capital Partners and Spark Capital.

The stablecoin opportunity

Stablecoins, digital tokens pegged to currencies such as the US dollar, have become one of the most practical uses of blockchain technology. They let businesses move money across borders in minutes rather than days, at any hour, often at lower cost than traditional international transfers. New laws, such as the GENIUS Act in the United States, created clearer rules for issuing dollar stablecoins, encouraging banks and payment companies to experiment. Fireblocks has positioned itself as infrastructure for this shift, helping companies issue stablecoins, hold them securely and use them for payments. If stablecoins become a mainstream payment method, the infrastructure that supports them could grow far beyond today's crypto trading market.

Tokenisation of real-world assets

Tokenisation means representing traditional assets such as bonds, money market funds, real estate or private credit as tokens on a blockchain. Supporters argue it can make settlement faster, enable round-the-clock trading and reduce costs. Large asset managers have launched tokenised funds, and banks have experimented with tokenised deposits. Each of these projects needs secure custody and issuance infrastructure, which is another growth market for Fireblocks.

Security lessons from crypto hacks

The crypto industry has suffered many large hacks, often caused by stolen private keys, compromised employees or flawed smart contracts. Institutions evaluating infrastructure look for layered defences: keys split across separate systems, strict approval policies for large transfers, address whitelists, monitoring for unusual activity and independent security audits. No system is perfect, and the human side of security, including protection against social engineering, is as important as the technology.

Questions for institutions

• Who controls the key shares, and what happens if the vendor goes out of business?
• How are transaction policies enforced and audited?
• Which blockchains, tokens and counterparties are supported?
• What regulatory licences and certifications does the provider hold?

Latest developments (October 2026)

Fireblocks has been expanding through acquisitions. In January 2026 it agreed to buy crypto accounting platform TRES Finance for about US$130 million in cash and equity, following its October 2025 purchase of wallet startup Dynamic for about US$90 million, according to reports summarised by PANews. Demand for its custody and payments infrastructure has grown with stablecoin adoption by banks and payment firms. Its 2022 valuation of US$8 billion remains the latest priced figure. See our crypto infrastructure guide.

What to watch

Watch for a new priced funding round, stablecoin payment partnerships with banks and payment firms, acquisitions, and any move towards an IPO as crypto markets and regulation mature. Our guide to the largest private crypto companies compares Fireblocks with peers.

Takeaways

Banks and fintechs can launch digital asset and stablecoin services without building security infrastructure from scratch. Founders can learn from Fireblocks' focus on a hard, specific problem: key security. Investors should remember that its last valuation dates from the 2022 market peak.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. The Block
2. The Block