Connect with us

Blockchain

Fireblocks Emerges From Stealth Mode With $16 Million in Funding to Help Institutions Secure Digital Asset Movement

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

Fireblocks (www.fireblocks.com), an enterprise platform for securing digital assets in transit, announced today its launch out of stealth mode with $16 million in Series A funding from Cyberstarts, Tenaya Capital, Eight Roads (the proprietary investment arm of Fidelity International), Swisscom Ventures and MState.

Fireblocks’ customers, which count some of the largest institutional digital asset trading operators like Galaxy DigitalGenesis Global Trading and more, use the platform to safeguard the digital assets in its portfolio as it is moved across exchanges, OTCs, counterparties, hot wallets, and custodians. Currently, Fireblocks is integrated with 15 digital asset exchanges and offers support for over 180 cryptocurrencies, tokens, and stablecoins.

More than $3B in digital assets were stolen by hackers over the last 18 months due to private key theft, spoofing, and compromised credentials. Recently, Binance, the largest cryptocurrency exchange in the world lost $40MM in bitcoin due to an insecure hot wallet and compromised API credentials. Founded by Michael Shaulov and Pavel Berengoltz,whose mobile security company Lacoon Mobile Security was acquired by Check Point, and Idan Ofrat, the VP R&D of C4 Security which was acquired by Elbit Systems, Fireblocks aims to eliminate the root cause of digital asset hacks and scams.

“While Blockchain based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber attacks and human errors,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “We built a platform that secures the process and simplifies the movement of funds into one or two steps.”

Joined by top security engineers from Symantec, Trusteer, IBM security and leading cryptography advisor, Prof. Ran Canetti, Fireblocks is introducing the first patent-pending Secure Transfer Environment that works with a Hot Vault system. Together, it enables digital assets to be easily transitioned from any storage solution to be primed for immediate settlement and transfer on the blockchain.

“Moving digital assets 24/7, across the globe, uninterrupted, while meeting all enterprise security requirements is industry changing,” said Ivan Brightly, CISO of Galaxy Digital.” For digital asset trading operators, the Fireblocks platform provides a robust security system for digital assets, whether stored or in transit.

“Sitting as part of the broader Fidelity group, we realize that cybersecurity is crucial in the adoption of blockchain and digital assets,” said Davor Hebel, Partner, Head of Eight Roads Ventures EuropeWe are excited to support the Fireblocks team as it develops a cutting edge technology that will help propel digital assets trading to the next level of evolution, enabling huge improvements in operational efficiencies, security, and trust.”

“Securing Blockchain based assets is one of the key challenges in modern Cybersecurity warfare, and it requires heterogeneous expertise in mathematics, system level programming and years of hands-on Cybersecurity experience,” said Gili Raanan, Partner at Cyberstarts and Sequoia Capital. “The Cyberstarts team is thrilled to partner with Michael, Idan & Pavel, who amazed us with their technology breakthrough to eliminate risk from digital assets management.”

 

SOURCE Fireblocks

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Advertisement
Comments

Blockchain

Galaxy Digital to Host a Shareholder Update Conference Call on Wednesday, August 28, 2019 at 9:00AM EDT

Vlad Poptamas

Published

on

Reading Time: 1 minute

 

Galaxy Digital Holdings Ltd. (TSXV: GLXY; Frankfurt: 7LX) (“Galaxy Digital” or the “Company”) is pleased to announce that it will report second quarter 2019 financial results before the opening of the TSX-Venture Exchange on Wednesday, August 28, 2019.

Michael Novogratz, CEO and Founder of Galaxy Digital, and members of management will host a conference call to provide a general update to shareholders on the Company’s activities and results on the same day at 9:00 am Eastern Daylight Time (EDT).

The dial-in number for callers in the United States or Canada is 800-289-0459. The dial-in number for callers in Germanyis 0800-589-4608. Callers who reside outside of the United StatesCanada or Germany should dial +1-323-794-2558. The passcode for all participants is 877692. For those unable to participate, an audio recording of the call will be available on the Company’s website until at least 5:00 pm EDT on September 17, 2019.

 

SOURCE Galaxy Digital Holdings Ltd

Continue Reading

Blockchain

Crypto Earn: Now Earn 8% p.a. on DAI & MKR Deposits

Vlad Poptamas

Published

on

Crypto Earn: Now Earn 8% p.a. on DAI & MKR deposits
Reading Time: 1 minute

 

Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Maker (MKR) and added DAI & MKR to Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits.

Dai (DAI) DAI is a USD-pegged stablecoin running on the Ethereum developed by the MakerDAO team. Its $1 USDequivalent is maintained through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. DAI can be used in the same manner as any other cryptocurrency: It can be freely sent to others, used as payments for goods and services, or held as long term savings.

Maker (MKR) is an ERC-20 token on the Ethereum blockchain that backs and stabilizes the value of stablecoin DAI through automatic pricing mechanisms built into smart contracts. MKR tokens are created or destroyed in accordance with price fluctuations of the DAI coin in order to keep it as close to $1 USD as possible and is part of a fully inspectable system on the Ethereum blockchain. MKR tokens are also used to pay transaction fees on the Maker system, and provide holders with voting rights within Maker’s continuous approval voting system.

Crypto Earn now supports 13 coins for holders to maximize their returns, including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK with the addition of DAI and MKR. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 50 MCO.

Continue Reading

Blockchain

Assembl Announces Investment from CV VC to Build Decentralized Tools for Open Science

Vlad Poptamas

Published

on

The Assembl team and the team at CV Labs, along with the 11 other companies involved in the CV Labs incubation program, at the CV Labs offices in Zug, Switzerland.
Reading Time: 2 minutes

 

Assembl Inc., a software company focused on democratizing science by helping researchers collaborate and exchange data, has announced the close of its angel round. The 125,000 CHF round was funded by CV VC, a Swiss blockchain-oriented investment firm, as fuel to build out operations, assist with patenting, and enter the scientific market.

Assembl’s unique twist is their licensing model. This model enables scientists and academics to treat their datasets like IP, and then license their datasets out to other institutions or individuals.

“The internet was originally created to interconnect scientists and research institutions,” said CEO Sebastian Mellen. “It’s time to bring that back, but this renaissance is only going to happen in a secure environment. That’s why we’re building a framework for the open science movement.”

Advantages for scientists: 
– A secure and inexpensive alternative to cloud storage and transfer solutions 
– Built-in licensing model to protect against IP theft, secured with blockchain technology 
– Compliance with government and IRB regulations

“We like the potential impact of such a solution in today’s global environment,” said Olaf Hannemann, CIO of CV VC. He continued, “We invest in great entrepreneurs that have the right idea at the right time, and [the Assembl team] clearly ticks these boxes. Leading researchers to work together effectively and increasing speed to publication is [highly] relevant today.”

The investment decision was made following a threemonth incubation program led by CV Labs, an affiliate of CV VC, which finished last July. The program took place in Zug, Switzerland, a hub for decentralized tech known as the “Crypto Valley” and the “Silicon Valley of Switzerland.”

The sentiment from CV Labs was positive, as mirrored by Pavel Jakovlev, Incubation & Ecosystem Lead: “The Assembl team was hard at work throughout the incubation program and have managed to deliver above and beyond our expectations. We look forward to welcoming Assembl back to the Crypto Valley in the nearest future.”

At Assembl, the work continues. Assembl’s beta software is already in use by researchers, and interest is growing daily. Now, the task is to expand Assembl’s userbase. With a focus on Europe, due to advantageous open science legislation in the EU, the team will burrow in for the winter to finish product development and reach key partnerships.

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off