Crypto asset custody platform Fireblocks reportedly secured $550 million of capital injection successfully via Series E fundraising, consequently standing in the list of most valuable blockchain entities.

Specifically, the fundraising round – which serves as a demonstration for the increasing institutional appetite towards crypto solutions, regardless of extreme price volatility – was reportedly led collaboratively by venture companies D1 Capital Partners and Spark Capital. 

The round additionally witnessed Parafi Growth Fund, Canapi Ventures, Altimeter, General Atlantic, Index Ventures, Mammoth, CapitalG and Iconiq Strategic Partners taking parts in. 

Since its establishment three years ago (2019), Fireblocks has reportedly managed to secure a total of $799 million from a few top-tier names in blockchain venture entities. 

The firm reportedly obtained $310 million in a Series D funding round that concluded in July last year, following an initial Series C funding round in March that year that helped the entity secure $133 million.

The successive funding rounds reportedly supported Fireblocks financially in its quest of widening the scope of its services to cover 800 institutional customers, with a few nominal names being Bank of New York Mellon, Revolut, Galaxy Digital, Crypto.com, BlockFi, SwissBorg, CoinShares, eToro and Three Arrows Capital.

Fireblocks – functioning as an infrastructure provider – reportedly collaborate with crypto exchanges, lenders and different financial institutions to secure, transfer and issue digital assets.

Fireblocks reportedly made using multi-party computation – alternatively referred to as MPC – a priority, regarding the provision of custody and infrastructure solutions to secure virtual assets. 

“When it comes to custody, customers want to wake up in the morning knowing their assets are still there. Security in the digital asset space has evolved over the last few years to provide better control and better transparency — that’s why most of us are using multi-party computation today.” Michael Shaulov – Head of Fireblocks – further remarked.