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Cryptocurrencies

Crypto-security company Fireblocks gets USD 16 mln from Fidelity, Tenaya Capital

Tuesday 11 June 2019 | 12:35 PM CET

Fireblocks has received USD 16 million in Series A funding from Cyberstarts, Tenaya Capital, and Eight Roads, the proprietary investment arm of Fidelity International.

The additional capital received will enable the company, a platform for securing digital assets in transit, to build out its infrastructure, and court additional companies. The platform enables digital assets to be transitioned from any state of storage and primed for immediate settlement and transfer on the blockchain using chip-level security and MPC technology. The platform also allows the use of several layers of security including passwords, biometrics, and two-factor identification.

Also, Fireblocks allows for tranches of authorisation and access among those using the service to control the flow — in terms of timing and amount — of transactions. This allows financial institutions that have different types of employees, from traders to operations managers, all with access to digital funds, to set different permissions for different scenarios.

The company is integrated with 15 digital asset exchanges and offers support for over 180 cryptocurrencies, tokens, and stablecoins, according to CoinDesk.

More: Link
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