Fireblocks has unveiled a new suite of self-service tools tailored for Web3 startups, capitalizing on a 55% increase in venture capital funding for the sector in Q1 2024. The company announced the launch of “Fireblocks for Startups” on July 24, offering blockchain-based product builders access to its technology stack and security features.
Web3-linked startups saw a surge in investor funding to almost $1.9 billion in the first quarter. Fireblocks intends to aid this growth by equipping startups with key resources to expedite market entry, increase revenues, and streamline intricate technical mergers.
However, key features of the new offering include customizable custody solutions, insurance for asset transfers, and automated governance policies. Startups will also gain access to the Fireblocks Network, connecting them to over 65 blockchains and 35 exchanges.
Startup success stories with Fireblocks
Co-founder and Chief Product Officer at Fireblocks, Idan Ofrat, said:
The most novel use cases and best ideas still come from builders who are the cornerstone of the ecosystem. The short history of crypto shows that successful projects – whether crypto exchanges, DeFi bridges, or NFT platforms – go through periods of hypergrowth during market upswings, with development teams focused solely on maintaining front-end stability and neglecting security in the process.
The firm discloses that 25% of its existing client base comprises startups and small to medium-sized enterprises. Among the notable triumphs was Fasanara Capital, which magnified its managed assets from $20 to $100 million within a year. Another is Scrypt, which enhanced efficiency by 70% and slashed blockchain expenses by $60,000.
Fireblocks has a good history of aiding digital asset innovators, shaping the creation of this innovative toolkit. The company strives to deliver speed, security, and ease to enterprises venturing into blockchain-driven ventures.
Amid increasing investments, Fireblocks’ latest release is set to position it as a key player in driving the wave of innovation. Nevertheless, this move is strategically tailored to address the specific hurdles that emerging startups encounter in this ever-evolving landscape.
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