By Gertrude Chavez-Dreyfuss

NEW YORK, (Reuters) – Fireblocks is a provider of digital asset infrastructure. It announced on Thursday that it has raised $550million from institutional investors. This makes it the biggest financing round in cryptocurrency in recent years.

It was valued at $8 billion.

D1 Capital Partners led the financing, Spark Capital participated, as did investors like General Atlantic and Altimeter.

All the firms have confirmed their investment via email to Reuters.

In a telephone interview, Michael Shaulov (Fireblocks chief executive officer) stated that the capital would be used to invest in new uses cases in digital assets such as gaming, entertainment and music, decentralized finance, tokens, gaming, entertainment and music.

The market segment that facilitates financial transactions in crypto-denominated currencies outside of traditional banks is called decentralized finance.

On the other side, non-fungible tokens are digital assets that can’t be duplicated.

Fireblocks is a financial institution and company that works together to create cryptocurrencies and other digital assets. We provide the infrastructure, including wallets, to ensure digital assets are safe and secure.

Shaulov stated that his company’s mission is to turn every business into a cryptocurrency enterprise.

Fireblocks, U.S., cited recent Gartner According to a report by NYSE:, around one fifth of the major companies will use digital currency by 2024. This suggests that large corporations will adopt crypto in greater numbers by 2022.

Shaulov explained that Fireblocks’ network connects to the digital currency capital market and allows for instant settlement of funds and payments.

He stated that Fireblocks was designed to make fund transfers more secure because many hacks do not occur while you store it but rather when you move it or sell it.

According to Dan Sundheim (founder of D1, a New York-based company that led the funding round), Fireblock has secured 15% of crypto transactions daily.