Bloomberg: Crypto custody firm Fireblocks acquires blockchain service company BlockFold for approximately $10 million

According to ChainCatcher news, citing informed sources from Bloomberg, the crypto company Fireblocks Inc., backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based crypto startup aimed at helping financial institutions build blockchain-based systems.

Sources indicate that Fireblocks paid approximately $10 million for the acquisition of BlockFold. Representatives from both companies declined to comment.

While Fireblocks has already collaborated with large financial institutions such as BNY Mellon, BNP Paribas, and the Tel Aviv Stock Exchange, it primarily provides them with custody technology services. This individual stated that acquiring BlockFold offers a quick way to expand the range of products offered to such clients.

BlockFold was founded in 2021 and specializes in tokenization and smart contract development, with clients including large financial institutions.