Fireblocks, a New York-headquartered blockchain security firm reportedly reeled in more than $100 million in 2022 yearly recurring revenue (ARR) – a sign of surging crypto ecosystem interests. 

Specifically, ARR reportedly mentioned the recurring revenue generated by a firm dependent on subscriptions. Functioning as a software-as-a-service provider, Fireblocks saw overwhelming interest in decentralized finance (DeFi), blockchain and Web3 technologies.

The driving factor that led to a rise in revenue during bearish movements in the market can reportedly be due to an overall mindset adjustment, since firms and investors sharing a more open attitude toward studying crypto use cases, instead of chasing market volatility for fast money flows.

“We have seen first-hand the innovation happening among fintechs, Web3 start-ups, banks and payment service providers who are diligently bringing new digital asset products to market.”Fireblocks co-founder and current Head Michael Shaulov reportedly offered insights into its growing customer base. 

Furthermore, consumer brands, gaming entities and crypto start-ups have made contributions to Fireblocks’ $100 million revenue this year also. With crypto carries on its integration into international financial infrastructure, Fireblocks has an expectation of developing stronger as an enabler for businesses delivering secure crypto products.

The firm’s announcement also included Fireblocks’ initiative to collaborate with industry leaders including BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Animoca Brands and Wirex.

During his speech regarding the company’s future, Fireblocks chief technology officer Idan Ofrat shared confirmation of Fireblocks’ devotion to the provision of solutions catering to emerging market entrants and use cases, nominally stablecoin issuance, nonfungible token (NFT) treasury management and crypto payments.