One of the fastest-growing cryptocurrency companies, Fireblocks announced the acquisition of First Digital today. The acquisition will facilitate the expansion of the company’s payment offering.
Fireblocks noted that the integration of First Digital will support B2C, B2B, cross-border and other forms of payment through USDC, Celo, other stable coins and digital currencies. In addition, the crypto firm outlined the rising retail and institutional demand for digital asset-related payments.
Earlier this year, Fireblocks raised a whopping $550 million in its Series E funding round. With a valuation of approximately $8 billion, Fireblocks is one of the most valuable companies in the digital asset ecosystem.
“We’re thrilled to welcome First Digital to the Fireblocks family as we accelerate our expansion plans to help every business become a crypto business. We’re pushing ‘fast forward’ to give PSPs the suite of tools they need to begin accepting crypto payments,” Michael Shaulov, the CEO and Co-Founder of Fireblocks, said.
Payments with Digital Assets
According to research conducted by Mastercard, nearly 40% of the consumers in Africa, the Middle East, Asia-Pacific and the American region are planning to use digital currencies for purchases in the next year. Additionally, a large percentage of the respondents are exploring different technology-driven solutions for the settlement of cryptocurrency payments.
Fireblocks and First Digital believe that the acquisition will increase the global adoption of digital assets. “It is amazing to see what the entire Fireblocks team has built and accomplished in such a short period of time. This is an exciting opportunity for the First Digital team based on a proven, successful partnership with Fireblocks. We believe that payments should be a core functionality for all fintech apps, and via Fireblocks’ platform, we will make it available to the world at scale,” Ran Goldi, the CEO of First DAG, commented on the acquisition announcement.
