Digital asset custody and blockchain infrastructure firm Fireblocks has raised $310 million in a Series D funding round, taking its valuation to $2.2 billion. The company said it plans to use the new capital to help move traditional assets and financial products onto blockchain infrastructure, as it expects the digitization trend to keep accelerating in the near future.
Valuation Jumps After New Funding
The round included participation from Sequoia Capital, Stripes, Spark Capital, Coatue, DRW Venture Capital, and SCB 10X, the venture arm of Thailand’s Siam Commercial Bank. According to the report, the latest financing tripled Fireblocks’ value compared with its Series C round completed in February of the previous year, underscoring strong investor appetite for institutional crypto infrastructure.
Targeting Traditional Assets on Blockchain
CEO Michael Shaulov said the company sees this as the beginning of a major opportunity to bring traditional financial products on-chain. He noted that interest in the technology has already reached senior leadership levels within banks. Fireblocks says it is already working with more than 70 banks worldwide, providing infrastructure to manage cryptocurrency holdings and support the tokenization of certain assets.
The company describes its platform as a provider of highly secure wallets for cryptocurrencies and digital assets, allowing institutions to store their own funds or customer assets while also accessing security insurance. That positioning has helped Fireblocks gain traction in the institutional custody market during the broader expansion of the crypto sector.
Growth Comes Amid Ethereum Dispute
Even as it expands, Fireblocks has also been drawn into controversy over its Ethereum custody-related services. Stakehound sued the company, alleging that negligence caused the loss of access to 38,178 ETH. Stakehound claimed the issue resulted from human error by an employee working in an unsuitable environment.
Fireblocks rejected responsibility for the incident. Shaulov said the matter was unrelated to the core service the company provides to its client base and argued that no client wallets were affected, including those used by Stakehound. The funding round nevertheless highlights continued market confidence in institutional-grade digital asset custody and blockchain infrastructure providers.