{"id":2211,"date":"2021-06-29T13:26:45","date_gmt":"2021-06-29T13:26:45","guid":{"rendered":"https:\/\/forbes.co.il\/e\/?p=2211"},"modified":"2021-06-30T11:59:37","modified_gmt":"2021-06-30T11:59:37","slug":"fireblocks","status":"publish","type":"post","link":"https:\/\/forbes.co.il\/e\/fireblocks\/","title":{"rendered":"This is how the founders of Fireblocks made the crypto market safer for investors"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Total funding:<\/strong> $179 million<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Employees<\/strong>: 70 employees in Israel, 35 in the USA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Founders<\/strong>: Michael Shaulov, Pavel Berengoltz, Idan Ofrat<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Founded<\/strong>: 2018<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Investors<\/strong>: Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital, Cyberstarts Ventures, Coatue, Ribbit, BNY, Silicon Valley Bank<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-background has-vivid-red-background-color has-vivid-red-color\"\/>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"450\" src=\"https:\/\/forbes.co.il\/e\/wp-content\/uploads\/2021\/06\/fireblocks-edit.jpg\" alt=\"Fireblocks co-foundersL Michael Shauluv, Pavel Berngoltz and Idan Efrat | photo: Yossi Zeliger\" class=\"wp-image-2206\" srcset=\"https:\/\/forbes.co.il\/e\/wp-content\/uploads\/2021\/06\/fireblocks-edit.jpg 900w, https:\/\/forbes.co.il\/e\/wp-content\/uploads\/2021\/06\/fireblocks-edit-300x150.jpg 300w, https:\/\/forbes.co.il\/e\/wp-content\/uploads\/2021\/06\/fireblocks-edit-768x384.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption>Fireblocks co-foundersL Michael Shauluv, Pavel Berngoltz and Idan Efrat | photo: Yossi Zeliger<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The total value of digital currency crossed the $2 trillion dollar mark for the first time and as of now, the crypto market is the ninth largest economy in the world. The value of Bitcoin, the undisputed king of the 6,600 different kinds of cryptocurrency, has soared in the past year and today is responsible for half of this enormous value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Right at the center of this white-hot trade in the crypto arena sits <a href=\"https:\/\/www.fireblocks.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fireblocks<\/a>, which is developing a safe environment for trading digital currencies and assets for financial entities. A number of years before the present boom, when the crypto market was still in its relative infancy, the company\u2019s founders \u2014 Michael Shaulov, Pavel Berengoltz and Idan Ofrat \u2014 identified the Achilles\u2019 heel of this new, promising market. The three founders, who have accumulated considerable milage in the field of cyber security over the years, have identified, on the one hand, a huge demand, which only continues to grow, for products and services for digital assets, but on the other hand, that it is a market with major security issues. They defined this as a weak underbelly which prevents strong, wealthy financial institutions from entering the field.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The solution that they engineered comes in the form of a platform which provides secure infrastructure for transfer, storage, and issuing of digital assets using blockchain technology. Using Fireblocks\u2019 platform, banks, fintech companies, crypto exchanges or hedge funds can, for example, securely transfer digital assets over the network.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cFintech companies and banks require more than a dedicated infrastructure for security and transfers, which ensures customers that their assets are being managed securely, but also a platform which enables the launch of new product lines,\u201d says CEO Shaulov. \u201cWe believe that our infrastructure is perfectly suited to this new era of financial services.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The platform was launched two years ago and already serves 230 financial bodies which use it to make secure transfers of digital assets valued at over 400 billion dollars. To this day, the company has raised 179 million dollars in three funding rounds, with the last round raising 133 million dollars.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the capital that they raised, this promising start-up intends to continue to expand \u2014 mainly by growing the company\u2019s R&amp;D center in Tel Aviv, which currently has 60 employees and is expected to double in size by the end of the year.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company stormed into the white-hot crypto arena and created a secure trading platform for digital currencies and assets: \u201cThe infrastructure is perfectly suited to the new era of financial services.\u201d<\/p>\n","protected":false},"author":16,"featured_media":2206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,175,3],"tags":[],"class_list":["post-2211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hide-on-homepage","category-magazine-white","category-entrepreneurs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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