Encrypted security company Fireblocks said on Wednesday that it has raised $30 million in Series B financing. The money will be used to hire new talents and expand its global business to meet “the demand for digital assets in the institutional and retail markets.”

The company stated that this round of financing was led by Paradigm, and existing Fireblocks investors participated in the project-Galaxy Digital, Digital Currency Group, Cyberstarts, Tenaya Capital, Swisscom and Cedar Hill Capital.

“With the new capital injection, we will be able to continue to expand internal R&D, marketing and sales talents, thereby continuing to push the limits of product innovation and customer growth in key regions,” said Michael Shaulov, the company’s CEO. Fire block.

Fireblocks is an enterprise-level platform that can help institutional investors such as hedge funds, exchanges and over-the-counter trading desks to safely transfer, store or issue digital assets.

Since its launch in June 2019, Fireblocks has acquired more than $150 billion in digital assets for global institutional clients. According to Shaulov, in the third quarter of 2020, Fireblocks’ customer growth reached a peak of 533%. He added that the company has seen similar growth in the current fourth quarter.

Fireblocks said that there are already more than 160 active institutional participants on its network, including some of the largest liquidity providers such as B2C2, Galaxy, Amber and Three Arrows.

The B round of financing brings Fireblocks’ total funding to date to $46 million. In June last year, the company raised $16 million in Series A financing.

What do you think of Fireblocks’ latest round of financing? Let us know in the comments section below.

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