The oldest bank in the United States, BNY Mellon is pugnaciously investing in the digital asset industry.
In a series of C funding round, Cryptocurrency startup fireblocks have raised $133 million. Coatue, Ribbit and Stripes, venture capital firms, led the investment round and well-defined investment from Silicon Valley Bank and BNY Mellon.
In order to expand the settlement infrastructure needed to onboard new customers as crypto adoption heats up, the CEO of Fireblocks, said the cash injection will allow the company to expand. The CEO further posited that they believe that their infrastructure will lend itself perfectly to power an entirely new era of financial services and there are no plans to become a bank.
Micky Malka of Ribbit Capital, explaining its firm involvement in Fireblocks, posited that “that at the cusp of the biggest transformation is where the firm is standing and the world’s financial system has ever seen and that they are at the forefront of revolution.
The funding of Series C is directed toward more developed projects that a fair degree of success have already been achieved. However, to help to scale the services and products into new markets or even to acquire other businesses, the companies require additional capital.
Veterans of Israeli military intelligence, including Michael Shaulov founded Fireblocks in 2018. Also, Lacoon mobile security and and mobile security startup was co-founded by Shaulov.