# Fireblocks

> Fireblocks is an organization that provides digital asset and stablecoin infrastructure enabling institutions to custody, move, tokenise and manage digital assets via MPC-based wallets, policy controls and a settlement network.

- Canonical URL: https://iq.wiki/wiki/fireblocks
- Categories: Organizations
- Tags: Ethereum, Bitcoin, Venture, Solana, DataPlatform
- Created: 2026-10-01T07:02:39.649Z
- Last updated: 2026-10-01T14:24:51.450Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

---

**Fireblocks** is an institutional digital asset and [stablecoin](https://iq.wiki/wiki/stablecoin) infrastructure platform that uses patented multi-party computation (MPC) wallet technology to let organizations store, move, issue, and manage [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), [stablecoins](https://iq.wiki/wiki/stablecoin), and tokenized assets across more than 150 [blockchains](https://iq.wiki/wiki/blockchain).[[3]](#cite-id-4unxf39b5z)​[[14]](#cite-id-or5tt7mibc) The platform was founded in 2018 by [Michael Shaulov](https://iq.wiki/wiki/michael-shaulov), Pavel Berengoltz, and Idan Ofrat.[[1]](#cite-id-bkhx65ga29)​[[2]](#cite-id-yvr61734ic) As of 2026 Fireblocks states that thousands of organizations use its platform and that it has secured more than USD 14 trillion in digital asset transactions.[[3]](#cite-id-4unxf39b5z)​[[14]](#cite-id-or5tt7mibc)​[[2]](#cite-id-yvr61734ic)​[[6]](#cite-id-fvdeiyq2e6)​

## History

Fireblocks traces its origins to a cybersecurity investigation. Co-founders [Michael Shaulov](https://iq.wiki/wiki/michael-shaulov), Pavel Berengoltz, and Idan Ofrat met while working together on a task force investigating the 2017 hack of four South Korean [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchanges, an attack attributed to the Lazarus Group. The three are reported to have had more than twenty years of combined cybersecurity experience, including work in mobility and other critical infrastructure, before building the company.[[7]](#cite-id-v9usisza1v) The company was formally founded in 2018, with Shaulov serving as chief executive officer and Ofrat as chief product officer.[[1]](#cite-id-bkhx65ga29)[[6]](#cite-id-fvdeiyq2e6) In 2021 Fireblocks established Fireblocks Trust Company as a New York limited purpose trust company supervised by NYDFS, positioning it as a regulated, onshore qualified custodian for U.S. financial institutions.[[16]](#cite-id-t7fi1630mb) In September 2022 the company announced that its annual recurring revenue had surpassed USD 100 million, roughly four years after its founding and around three years after its first product launch.[[20]](#cite-id-haph4k38k3) In July 2024 Bakkt, Castle Island, FalconX, and [Galaxy Digital](https://iq.wiki/wiki/galaxy-digital) announced they had selected Fireblocks Trust Company to provide institutional crypto custody, citing its regulated status and integration with Fireblocks’ technology platform.[[18]](#cite-id-4nirnozw4t)

The company's problem focus reflected its founders' background: the central technical challenge was to let institutions hold and transfer digital assets without concentrating the risk of key theft or insider collusion that had enabled the exchange hacks. Fireblocks addressed this by developing its MPC-CMP protocol, which its cryptography team released in 2020 as an open-source, peer-reviewed algorithm.[[8]](#cite-id-o9z3459eau)

Fireblocks has grown through a series of acquisitions that expanded its platform beyond custody. In February 2022 it acquired First Group (terms not disclosed).[[2]](#cite-id-yvr61734ic) In September 2023 it acquired the [tokenization](https://iq.wiki/wiki/tokenization) specialist Blockfold for USD 10 million.[[2]](#cite-id-yvr61734ic) In October 2025 Fireblocks acquired Dynamic, a developer platform providing passkey-based wallets and onboarding technology used by companies such as [Kraken](https://iq.wiki/wiki/kraken), [Magic Eden](https://iq.wiki/wiki/magic-eden), and [Ondo Finance](https://iq.wiki/wiki/ondo-finance) and reported to power over 50 million onchain accounts; LinkedIn records the deal at USD 90 million, though Fireblocks declined to disclose financial terms when contacted by [CoinDesk](https://iq.wiki/wiki/coindesk).[[9]](#cite-id-qdrvo3rjhu)[[2]](#cite-id-yvr61734ic) The acquisition combined Fireblocks' institutional custody infrastructure with Dynamic's consumer wallet technology to create what the company called a complete "custody-to-consumer" stack; Shaulov stated, "Together, we now offer something the industry has never had: the complete stack for on-chain finance, from custody to consumer." Dynamic's co-founders, [Itai Turbahn](https://iq.wiki/wiki/itai-turbahn) and Yoni Goldberg, said the merger gave developers a faster, more secure route to market.[[9]](#cite-id-qdrvo3rjhu) In February 2025 Fireblocks and [Circle](https://iq.wiki/wiki/circle) announced a strategic collaboration to accelerate [stablecoin](https://iq.wiki/wiki/stablecoin) adoption by financial institutions, integrating [Circle](https://iq.wiki/wiki/circle)’s [USDC](https://iq.wiki/wiki/usdc) and [EURC](https://iq.wiki/wiki/eurc) [stablecoins](https://iq.wiki/wiki/stablecoin) and services such as [Circle](https://iq.wiki/wiki/circle) Gateway and the [Arc](https://iq.wiki/wiki/arc) platform with Fireblocks’ infrastructure.[[19]](#cite-id-npv9tx3jmm) In January 2026 Fireblocks acquired Tres Finance for USD 130 million, adding digital asset accounting and reconciliation capabilities.[[2]](#cite-id-yvr61734ic)

## Technology and Security

Fireblocks positions its platform around a model it calls "direct custody," a form of self-custody in which the customer remains, in the company's words, "100% the owner and controller of your assets."[[8]](#cite-id-o9z3459eau)​

### Custody Model and Risk Principles

The company states that it never has access to a customer's full private key — during key generation, transaction signing, or backup — that it does not manage customer funds, and that funds are held on segregated on-chain addresses rather than commingled in an omnibus account.[[8]](#cite-id-o9z3459eau) Fireblocks frames this architecture around five "Custody & Risk Principles": providing a zero-counterparty-risk environment, eliminating external and internal attack vectors, guaranteeing business continuity, ensuring granular control and visibility of every transaction, and delivering high-performance, easy-to-use products.[[10]](#cite-id-2uloz9wm4s)​

### MPC-CMP and Key Management

The security model is built as a multi-layer system that the company describes as defense-in-depth. The first layer is **MPC-CMP**, the protocol Fireblocks developed to apply multi-party computation to the ECDSA and EdDSA signature schemes used by [blockchains](https://iq.wiki/wiki/blockchain). MPC divides signing information into encrypted "key shares" held by multiple parties or environments, using a threshold signature scheme in which a threshold of shares produces a single valid signature without ever reconstructing the whole private key.[[7]](#cite-id-v9usisza1v)​[[1]](#cite-id-bkhx65ga29) Fireblocks states that MPC-CMP requires fewer transaction rounds than earlier MPC designs and claims it is "8x faster than standard MPC"; the gate.com explainer labels this speed figure as a company claim rather than a universal guarantee.[[10]](#cite-id-2uloz9wm4s)​[[7]](#cite-id-v9usisza1v) The company distributes MPC shares across multiple tier-one cloud environments, and supports on-premises hosting or hybrid configurations to reduce the risk of a single data center being compromised.[[10]](#cite-id-2uloz9wm4s)​

Fireblocks supports hot, warm, and cold MPC-CMP wallet configurations, distinguished by where the third key share is placed and how approvals are handled: a hot wallet's third share is managed by an API co-signer for automated approvals, a warm wallet uses an online device with approval via the Fireblocks mobile app, and a [cold wallet](https://iq.wiki/wiki/cold-wallet) keeps the third share on an offline device requiring QR-code scanning from both ends.[[7]](#cite-id-v9usisza1v) For the highest offline security the company offers an MPC-based [cold wallet](https://iq.wiki/wiki/cold-wallet) alongside an HSM integration named KeyLink.[[11]](#cite-id-0qydc0irez)​

### Secure Enclaves and Policy Engine

The second layer uses **Secure Enclaves**, implemented with Intel Software Guard Extensions (SGX), which isolate cryptographic material and the execution of sensitive code in hardware. Fireblocks states that because MPC key shares are stored inside SGX enclaves, they cannot be extracted even if malware or an attacker gains control of the server operating system, and that the same enclaves protect API keys and exchange credentials from "hackers, inside colluders, or even Fireblocks employees."[[10]](#cite-id-2uloz9wm4s) The third layer is the **Policy Engine**, which is itself secured inside SGX; policy rules are signed by a quorum of administrators and encrypted within the enclave so that, the company says, neither external attackers nor insiders can modify the engine's logic.[[10]](#cite-id-2uloz9wm4s) The fourth layer is the **Fireblocks Network** (described below), which addresses the operational risk of deposit-address spoofing and manual transfer errors.[[10]](#cite-id-2uloz9wm4s)​

### Security Monitoring and DeFi Protection

Additional controls include a FIPS 140-3 validated platform the company says is powered by Distributed Fragments Cryptography and a zero-knowledge architecture, continuous 24/7 Security Operations Center monitoring, transaction simulation, and DeFi threat detection that scans for malicious [smart contracts](https://iq.wiki/wiki/smart-contract).[[3]](#cite-id-4unxf39b5z)​[[12]](#cite-id-xa9ij9ik6e) Fireblocks markets a DeFi Security Suite and Fireblocks Security Posture Management (FSPM), which it describes as the first security posture management solution purpose-built for digital assets.[[12]](#cite-id-xa9ij9ik6e)​

### Certifications and Third-Party Audits

On certifications, Fireblocks states that it holds SOC 2 Type 2 certification — granted by Ernst & Young and maintained, the company says, with "zero material findings" — and ISO 27001 along with related standards; one of its listings advertises three ISO certifications (27001, 27017, and 27018). The company states it is penetration tested by providers including COMSEC and NCC Group, uses NCC-audited cryptographic libraries, conducts multiple third-party code reviews annually of its MPC-CMP algorithm, and describes itself as the first C4 CCSS QSP [Level](https://iq.wiki/wiki/level) 3 certified company.[[13]](#cite-id-if9nsv12j)​[[12]](#cite-id-xa9ij9ik6e)​[[8]](#cite-id-o9z3459eau) In March 2023 Fireblocks and Ernst & Young LLP published a joint "leading practices" document on digital asset custody using Fireblocks' MPC solution, part of EY's [Digital Assets](https://iq.wiki/wiki/digital-assets) Risk Management series, with a foreword co-signed by Shaulov and EY US [Blockchain](https://iq.wiki/wiki/blockchain) Practice Leader Chen Zur; the document stated it was not intended to opine on the security or operational effectiveness of the platform, but to describe its capabilities and the controls institutions should implement.[[1]](#cite-id-bkhx65ga29)​

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## Products and Services

Fireblocks offers its platform as software-as-a-service built around three core components — Digital Asset Wallets, Platform Governance, and Treasury Management — accessed through APIs and software development kits.[[10]](#cite-id-2uloz9wm4s)

### Wallets
Fireblocks groups its wallet products into three categories. **Treasury Management** wallets serve organizations managing their own assets, with granular approval policies and access to liquidity and yield from a single platform, used by crypto-native companies, institutional investors, payment processors, and enterprises with digital asset exposure.[[11]](#cite-id-0qydc0irez) **Wallet-as-a-Service** gives businesses API-driven MPC wallets to manage assets on behalf of their own customers, automating deposits, withdrawals, and fund movements across thousands of wallets with features such as sweeping, wallet tagging, and gasless transactions.[[11]](#cite-id-0qydc0irez) **Embedded Wallets** are non-custodial, white-labelled wallets for consumer and retail applications, onboarding users via email, social login, or passkeys without [seed phrases](https://iq.wiki/wiki/seed-phrase) while leaving the integrating company in control of the user experience.[[11]](#cite-id-0qydc0irez) The company states its platform connects to 150-plus [blockchains](https://iq.wiki/wiki/blockchain) and thousands of assets and can accept transactions from more than 800 external wallets.[[11]](#cite-id-0qydc0irez)

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### Tokenization
Fireblocks offers an end-to-end [tokenization](https://iq.wiki/wiki/tokenization) engine for issuing and managing the full lifecycle of tokenized assets, from issuance and custody through distribution and secondary trading. Supported asset types include tokenized deposits, [stablecoins](https://iq.wiki/wiki/stablecoin), security tokens, and financial assets such as equities, bonds, and carbon credits, as well as non-financial assets including art, real estate, and NFTs.[[13]](#cite-id-if9nsv12j)[[14]](#cite-id-or5tt7mibc) The Policy Engine applies role-based access and control policies to [smart contracts](https://iq.wiki/wiki/smart-contract) and asset transfers across the token lifecycle, including corporate actions for [stablecoins](https://iq.wiki/wiki/stablecoin) and real-world assets.[[3]](#cite-id-4unxf39b5z) The AWS Marketplace listing names supported protocols including [Ethereum](https://iq.wiki/wiki/ethereum), [Hyperledger](https://iq.wiki/wiki/hyperledger) Besu, [Polygon](https://iq.wiki/wiki/polygon), [Avalanche](https://iq.wiki/wiki/avalanche), [Hyperledger](https://iq.wiki/wiki/hyperledger) Fabric, Quorum, and Corda, and references an integrated [Hyperledger](https://iq.wiki/wiki/hyperledger) FireFly development stack.[[3]](#cite-id-4unxf39b5z) In September 2026 the [Cardano](https://iq.wiki/wiki/cardano-ada) [Foundation](https://iq.wiki/wiki/foundation) and Fireblocks announced a roadmap to make [Cardano](https://iq.wiki/wiki/cardano-ada) Native Tokens standard assets on the Fireblocks platform by around March 2027, initially covering CNTs using the CIP-26 and CIP-68 metadata standards so institutional users can custody, send, and receive them with the same security and policy controls as other supported assets once the planned integration goes live.[[21]](#cite-id-oy4d5cssvh)[[22]](#cite-id-6l5zunv4il)

### Payments
Fireblocks provides blockchain-based payments infrastructure for moving [stablecoins](https://iq.wiki/wiki/stablecoin), [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), and tokenized deposits with 24/7/365 settlement, direct-to-wallet acceptance and payouts, and custom workflows at any step of the payment lifecycle.[[14]](#cite-id-or5tt7mibc) In June 2026 the company announced **[Flow](https://iq.wiki/wiki/flow)**, a [stablecoin](https://iq.wiki/wiki/stablecoin) acceptance product built for payment service providers and fintechs that lets merchants accept [stablecoins](https://iq.wiki/wiki/stablecoin), settle quickly, and connect to existing networks.[[5]](#cite-id-jy38nhp6v0) Fireblocks has stated its customers move more than USD 10 billion in [stablecoins](https://iq.wiki/wiki/stablecoin) on a typical business day; in one example, it reported that [Open USD](https://iq.wiki/wiki/open-usd) (OUSD), issued natively on the [Tempo](https://iq.wiki/wiki/tempo) chain, went live with more than USD 400 million in launch liquidity three months after announcement, running through the same Fireblocks controls.[[5]](#cite-id-jy38nhp6v0)

In 2024 Fireblocks introduced the Fireblocks Network for Payments, a payments-focused layer that connects its custody and treasury infrastructure to a network of integrated payment service providers.[[17]](#cite-id-06n8nk3053) Fireblocks has reported that the network processes approximately USD 200 billion in monthly [stablecoin](https://iq.wiki/wiki/stablecoin) payment volume and connects more than 40 payment service providers and fintechs with over 300 payment companies across more than 100 countries and 60 currencies.[[17]](#cite-id-06n8nk3053) The company positions the network as infrastructure for use cases such as cross-border business-to-business payments, merchant settlement, and on- and off-ramps between bank accounts and digital wallets.[[17]](#cite-id-06n8nk3053) As part of its 2025 collaboration with [Circle](https://iq.wiki/wiki/circle), Fireblocks integrated [Circle](https://iq.wiki/wiki/circle) Gateway and [Arc](https://iq.wiki/wiki/arc) into its payments stack so that institutional customers can fund and redeem [USDC](https://iq.wiki/wiki/usdc) and [EURC](https://iq.wiki/wiki/eurc) and use [Circle](https://iq.wiki/wiki/circle)’s onchain services alongside Fireblocks’ wallets and payment workflows.[[19]](#cite-id-npv9tx3jmm)

On May 20, 2026, Fireblocks launched its **Agentic Payments Suite** and joined the [x402 Foundation](https://iq.wiki/wiki/x402-foundation), the Linux Foundation-hosted governing body for the [x402](https://iq.wiki/wiki/x402) protocol, contributing a security extension to the protocol that adds request integrity and spend governance.[[6]](#cite-id-fvdeiyq2e6) The suite provides infrastructure for payments initiated by [AI agents](https://iq.wiki/wiki/ai-agents) using any [stablecoin](https://iq.wiki/wiki/stablecoin) on any [blockchain](https://iq.wiki/wiki/blockchain), covering the full lifecycle from the wallets agents use to send funds to the acceptance layer merchants use to receive them. Its components are an **Agentic Payments Gateway**, which lets payment service providers offer merchants [stablecoin](https://iq.wiki/wiki/stablecoin) acceptance the way they offer card acquiring, and **Agentic Wallets**, which give fintechs programmable wallets their end users can delegate to [AI agents](https://iq.wiki/wiki/ai-agents) within defined spending limits and with a full audit trail. Idan Ofrat framed the product by contrasting it with legacy systems: "Card infrastructure was built on the assumption that humans initiate every transaction. Agent infrastructure reimagines this at the root... We built the layer that makes sure they do it with the right controls in place." The release noted that [Agora](https://iq.wiki/wiki/agora)'s regulated [stablecoin](https://iq.wiki/wiki/stablecoin) AUSD was already live on the Fireblocks stack and cited support from the payments firm Tazapay and the Wyoming [Stable](https://iq.wiki/wiki/stable) Token Commission.[[6]](#cite-id-fvdeiyq2e6) In September 2026 Kakao Pay and Kakao Bank signed a memorandum of understanding with Fireblocks to explore secure digital asset infrastructure and [stablecoin](https://iq.wiki/wiki/stablecoin) distribution frameworks tailored to Korean regulatory, security, and service requirements, including planned proof-of-concept tests for the local market.[[23]](#cite-id-5724z5bguu)

### Fireblocks Network

The **Fireblocks Network** is an institutional asset-transfer network that automatically authenticates and rotates deposit addresses between counterparties, removing the manual copy-paste of addresses and the need for test transfers and reducing the risk of deposit-address spoofing. Fireblocks states the network connects more than 1,400 exchanges, [liquidity providers](https://iq.wiki/wiki/liquidity-providers), lending desks, banks, and market makers, and that thousands of businesses use it for peer-to-peer transfers.[[13]](#cite-id-if9nsv12j)[[10]](#cite-id-2uloz9wm4s) The company has reported that, on average, its clients move more than USD 100 billion between their wallets and connected accounts through the network each month.[[2]](#cite-id-yvr61734ic)

### Deployment and Advisory

Fireblocks offers Flexible Deployment options, delivering its platform either as a fully-hosted and managed SaaS environment or as an integration into a customer's existing key-management infrastructure. In the hosted model, the customer-held key share can be stored in the secure enclave of a mobile device or within an API Co-Signer running on Microsoft Azure, AWS, or Alibaba Cloud for high-volume operations, and the SaaS can be deployed in regional cloud data centers across the United States, European Union, Switzerland, and Hong Kong.[[15]](#cite-id-bewtpuq9gi) Fireblocks hosts and manages [nodes](https://iq.wiki/wiki/node) for more than 40 [blockchains](https://iq.wiki/wiki/blockchain) to remove the operational burden of running [node](https://iq.wiki/wiki/node) infrastructure, and offers core banking integrations through APIs with Temenos, Avaloq, and FIS.[[15]](#cite-id-bewtpuq9gi) The company also provides Advisory Services, through which customers work with its financial-markets and [blockchain](https://iq.wiki/wiki/blockchain) experts to build a digital asset roadmap and business plan.[[14]](#cite-id-or5tt7mibc) A separately listed managed application, the **Fireblocks API Co-Signer**, provisions an Intel SGX virtual machine to run the co-signer component.[[13]](#cite-id-if9nsv12j)

Fireblocks sells its platform primarily as a contract-based Enterprise Package, available on the AWS and Microsoft marketplaces through a private offer in which terms and entitlements are agreed with the vendor before subscription, with usage-based charges applying to overages beyond contracted usage.[[3]](#cite-id-4unxf39b5z)[[13]](#cite-id-if9nsv12j)

## Customers and Market Position

Fireblocks serves customer verticals including fintechs and exchanges, trading firms, payments companies, banks, [Web3](https://iq.wiki/wiki/web3) businesses, and startups.[[4]](#cite-id-bc8zuwh8ur) The company has stated that over 2,400 organizations use its platform, that it has created more than 130 million wallets and enabled secure digital asset access for over one billion end users, and that it connects to the largest ecosystem of banks, payment providers, [stablecoin](https://iq.wiki/wiki/stablecoin) issuers, exchanges, and custodians.[[3]](#cite-id-4unxf39b5z)[[14]](#cite-id-or5tt7mibc) Named customers include Worldpay, BNY, Galaxy, and Revolut.[[2]](#cite-id-yvr61734ic) Within institutional custody, Fireblocks Trust Company positions itself as a regulated, NYDFS-supervised qualified custodian for digital assets, and has been selected by institutions including Bakkt, Castle Island, FalconX, and [Galaxy Digital](https://iq.wiki/wiki/galaxy-digital) for U.S. onshore custody services.[[16]](#cite-id-t7fi1630mb)[[18]](#cite-id-4nirnozw4t) In payments, Fireblocks’ customer base includes payment service providers and fintechs using its Network for Payments for cross-border and merchant settlement flows, as well as institutions adopting [stablecoins](https://iq.wiki/wiki/stablecoin) such as [USDC](https://iq.wiki/wiki/usdc) and [EURC](https://iq.wiki/wiki/eurc) through its collaboration with [Circle](https://iq.wiki/wiki/circle).[[17]](#cite-id-06n8nk3053)[[19]](#cite-id-npv9tx3jmm) In the custody and infrastructure market, Fireblocks competes with firms including [BitGo](https://iq.wiki/wiki/bitgo), Copper, [Anchorage Digital](https://iq.wiki/wiki/anchorage-digital), and Metaco, as well as traditional-finance providers such as BNY and Fidelity [Digital Assets](https://iq.wiki/wiki/digital-assets).[[9]](#cite-id-qdrvo3rjhu)

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## Governance and Custody Controls
### Workspaces and Account Structure

Fireblocks organizes customer operations into Workspaces, each running on a separate BIP32 hierarchical-deterministic wallet structure with its own security measures and transaction policies. The three workspace types are a [Mainnet](https://iq.wiki/wiki/mainnet) Workspace for production operations, a [Testnet](https://iq.wiki/wiki/testnet) Workspace for integration testing without production assets, and a Developer Sandbox for building and testing APIs.[[7]](#cite-id-v9usisza1v) Within a workspace, wallets are held in Vault accounts — which can be segregated or omnibus — and assets are held in asset-specific wallets, each with at least one deposit address; the platform is said to support over 1,200 assets and any ERC-20-compatible token automatically.[[10]](#cite-id-2uloz9wm4s)[[7]](#cite-id-v9usisza1v)[[8]](#cite-id-o9z3459eau)

### Policy Engine and Transaction Governance

Transaction governance runs through the **Policy Engine**, also referred to as the Transaction Authorization Policy (TAP), a rule engine that governs outgoing transactions by allowing them, blocking them, or requiring additional signers. Administrators define rules using filters such as source, destination, asset, and amount, and these rules can extend to smart-contract operations including deploying, upgrading, and executing contracts, as well as DeFi and [staking](https://iq.wiki/wiki/staking) interactions.[[13]](#cite-id-if9nsv12j)[[1]](#cite-id-bkhx65ga29) Fireblocks integrates Know Your Transaction (KYT) and anti-money-laundering screening through providers including [Chainalysis](https://iq.wiki/wiki/chainalysis) and Elliptic for automated deposit and withdrawal screening, risk scoring, and frozen-transaction management.[[13]](#cite-id-if9nsv12j)

### Admin Quorum, Roles, and Access Control

A second control, the **Admin Quorum**, is the minimum set of administrators required to approve workspace-level changes such as whitelisting addresses, approving network connections, adding exchange accounts, and onboarding new users. The company states the quorum is designed to prevent insider attacks — for example, a malicious administrator attempting to whitelist a personal wallet address to steal funds.[[13]](#cite-id-if9nsv12j)[[10]](#cite-id-2uloz9wm4s) Fireblocks provides role-based access control across seven roles, with signing capability limited to the Owner, Admin, and Signer roles; it requires at least two-factor authentication for all users, supporting authenticator apps such as Google, Microsoft, LastPass, and Yubico; and it logs all workspace activity for audit, which can be exported to a security information and event management (SIEM) system.[[1]](#cite-id-bkhx65ga29)[[10]](#cite-id-2uloz9wm4s)

### Key Recovery and Business Continuity

For business continuity, Fireblocks offers "break-the-glass" key recovery, which it says lets customers load their MPC keys into a non-Fireblocks wallet and move assets independently, as well as "social recovery" among an organization's users. It distinguishes "soft recovery," which restores a single device's key share when at least one other share remains accessible (most commonly used after a lost or damaged mobile phone), from "hard recovery," which reconstructs an entire workspace's private key seed, halts operations during restoration, and requires the workspace owner's recovery passphrase. The company notes hard recovery may temporarily reintroduce single-location risk, and that institutions remain responsible for securing their own recovery materials.[[8]](#cite-id-o9z3459eau)[[1]](#cite-id-bkhx65ga29) Fireblocks also states that because customer funds are segregated and not commingled, they remain unavailable to the company's creditors in the event of insolvency and safe in the event of a hack.[[8]](#cite-id-o9z3459eau)

### Reported Usage Patterns

The EY–Fireblocks document reported several usage patterns drawn from the platform: Fireblocks users have on average 3.5 administrators per workspace and set an average of 9 transaction rules — rising to 12 or more for retail and traditional financial institutions — while 39% of users keep some portion of their assets in hot wallets, and the most frequent trigger for key-share regeneration is the loss or damage of a mobile device.[[1]](#cite-id-bkhx65ga29)

## Funding

Fireblocks has raised approximately USD 1.043 billion in total funding across venture and secondary transactions.[[2]](#cite-id-yvr61734ic) Its Series D round of USD 310 million closed on July 27, 2021, and was followed by a USD 550 million Series E in December 2021.[[2]](#cite-id-yvr61734ic) The company recorded additional venture financing events in February 2023 and May 2023, and a secondary-market transaction in June 2024.[[2]](#cite-id-yvr61734ic)