Fireblocks is an enterprise-grade digital asset infrastructure company that provides secure custody, transfer, and settlement solutions for cryptocurrencies and tokenized assets. The company focuses on enabling financial institutions, exchanges, fintech firms, and corporate treasuries to manage digital assets safely and efficiently through a combination of cryptography, secure hardware, and policy-driven workflows.
Overview
Fireblocks offers a platform designed to address one of the most critical challenges in the digital asset industry: secure key management and asset movement. Its technology allows organizations to store, transfer, and issue digital assets while maintaining institutional-grade security and compliance standards. Fireblocks is widely used by exchanges, custodians, banks, payment providers, and Web3 companies operating across global markets.
The platform supports a broad range of blockchains, tokens, and decentralized applications, positioning Fireblocks as core infrastructure for both traditional finance institutions entering crypto and native digital asset businesses.
History and Background
Fireblocks was founded in 2018 by a team of cybersecurity and blockchain experts, including Michael Shaulov, Idan Ofrat, and Pavel Berengolts. The founders previously worked in military-grade cybersecurity and enterprise security roles, shaping Fireblocks’ emphasis on threat prevention and operational resilience.
The company emerged during a period marked by frequent exchange hacks and custodial failures, aiming to reduce counterparty risk and operational vulnerabilities in crypto markets. Since its launch, Fireblocks has grown rapidly, serving hundreds of institutional clients and securing trillions of dollars in digital asset transfers.
Core Products and Services
- Digital Asset Custody: Secure storage of cryptocurrencies and tokens using distributed key management and hardware-based security.
- Transfer and Settlement Network: A private network that enables secure, policy-controlled transfers between institutions, exchanges, and counterparties.
- Tokenization and Issuance: Tools for minting, managing, and distributing tokenized assets such as stablecoins and real-world assets.
- Wallet Infrastructure: APIs and wallet services that support exchanges, fintech apps, and Web3 platforms.
Technology and Security Model
Fireblocks’ core technology is based on Multi-Party Computation, or MPC, which eliminates single points of failure by splitting private key control across multiple secure environments. Unlike traditional single-key or multi-signature setups, MPC enables transaction signing without reconstructing private keys in one location.
The platform combines MPC with secure enclaves, hardware security modules, and a policy engine that enforces transaction rules, approval workflows, and compliance checks. This layered approach is designed to protect against external attacks, insider threats, and operational errors.
Use Cases and Clients
Fireblocks serves a wide range of institutional use cases, including exchange custody, market making, treasury management, stablecoin issuance, and decentralized finance participation. Clients include cryptocurrency exchanges, neobanks, payment providers, hedge funds, and traditional financial institutions integrating digital assets into their offerings.
The platform supports interactions with both centralized and decentralized protocols, enabling institutions to engage with DeFi while maintaining internal controls and risk management standards.
Compliance and Institutional Adoption
Fireblocks is designed to integrate with existing compliance frameworks, offering features such as role-based access controls, transaction whitelisting, audit logs, and regulatory reporting support. These capabilities make it suitable for regulated entities operating under strict governance and oversight requirements.
The company has played a significant role in facilitating institutional adoption of crypto by providing infrastructure that aligns with traditional financial risk and compliance expectations.
Funding and Growth
Fireblocks has raised significant venture funding from institutional investors, reflecting strong demand for secure digital asset infrastructure. The company has expanded globally, establishing offices across North America, Europe, and Asia, and continues to broaden support for new blockchains, token standards, and use cases.
Market Position
Within the digital asset infrastructure sector, Fireblocks is considered a leading provider of custody and transfer technology. It competes with other institutional custody and wallet infrastructure providers, differentiating itself through its MPC-based security model, extensive blockchain support, and network-based settlement capabilities.
Risks and Considerations
While Fireblocks provides robust security infrastructure, its business is influenced by broader trends in digital asset adoption, regulatory developments, and market volatility. Institutional demand for crypto services can fluctuate with market conditions, and evolving regulatory standards may require ongoing adaptation of product offerings.
As the digital asset ecosystem matures, Fireblocks’ long-term success will depend on continued innovation, security performance, and its ability to support new asset classes and regulatory frameworks.
