Fireblocks

What is Fireblocks?

Fireblocks is an enterprise-grade digital asset infrastructure platform that provides secure custody, transfer, and management of cryptocurrencies and digital assets. Founded in 2018 by Michael Shaulov, Pavel Berengoltz, and Idan Ofrat, Fireblocks has emerged as the leading custody solution for institutional investors, with over 1,800 financial institutions relying on its platform to safeguard more than $6 trillion in digital asset transfers.

Unlike traditional custody solutions that rely on hardware security modules (HSMs) or multi-signature wallets, Fireblocks pioneered the use of Multi-Party Computation (MPC) technology for institutional crypto custody. This cryptographic approach eliminates single points of failure by distributing key shares across multiple parties, ensuring that no single entity—including Fireblocks itself—can unilaterally access client funds.

The platform has become essential infrastructure for the institutional crypto ecosystem, serving hedge funds, market makers, banks, exchanges, and corporate treasuries. Fireblocks' combination of military-grade security, regulatory compliance features, and seamless DeFi integration has made it the custody solution of choice for organizations requiring enterprise-level security without sacrificing operational flexibility.

Key Statistics

• Assets Transferred: $6T+ cumulative value transferred
• Institutional Clients: 1,800+ financial institutions
• Supported Assets: 1,500+ tokens and digital assets
• Supported Blockchains: 70+ networks including Ethereum, Bitcoin, Solana
• Security Track Record: Zero breaches since inception
• Valuation: $8B+ (as of latest funding round)

How Fireblocks MPC Technology Works

Multi-Party Computation Explained

Multi-Party Computation (MPC) is a cryptographic protocol that allows multiple parties to jointly compute a function over their inputs while keeping those inputs private. In the context of digital asset custody, MPC enables:

1. Key Share Distribution: Private keys are split into multiple encrypted shares
2. Distributed Signing: Transactions require collaboration between key shares without ever reconstructing the full key
3. Geographic Separation: Key shares can be stored in different physical locations
4. Zero Single Point of Failure: No individual party can access funds alone

MPC vs Traditional Custody Methods

The Secure Asset Transfer Layer

Fireblocks' Secure Asset Transfer (SAT) Network adds an additional security layer by creating authenticated channels between Fireblocks clients. Transfers within the SAT Network:

• Verify counterparty identity before execution
• Prevent deposit address spoofing attacks
• Enable instant transfers between verified institutions
• Provide an additional layer of fraud prevention

Key Features

1. Institutional Custody

Fireblocks provides custody infrastructure that meets the requirements of regulated financial institutions:

• SOC 2 Type II Certified: Comprehensive security controls audited annually
• Insurance Coverage: Industry-leading coverage for digital assets
• Segregated Accounts: Complete separation of client assets
• Role-Based Access Control: Granular permissions for team members
• Transaction Policies: Customizable approval workflows and limits

2. DeFi Access

The Fireblocks platform enables secure interaction with decentralized finance protocols:

• Web3 Engine: Connect to any dApp securely through the Fireblocks interface
• Protocol Integrations: Pre-built connections to major DeFi protocols
• Transaction Simulation: Preview transactions before signing
• Allowlist Management: Control which contracts can be accessed
• Gas Station Network: Automated gas management for transactions

3. Policy Engine

Fireblocks' Transaction Authorization Policy (TAP) engine provides customizable governance:

• Multi-Level Approvals: Require multiple signers based on transaction value
• Velocity Controls: Set daily, weekly, or monthly transfer limits
• Allowlist/Blocklist: Control permitted destination addresses
• Time-Based Rules: Restrict transactions to business hours
• API Integration: Programmatic policy management

4. Treasury Management

Enterprise treasury operations are streamlined through:

• Multi-Account Architecture: Separate accounts for different purposes
• Automated Sweeping: Consolidate funds across wallets automatically
• Balance Reporting: Real-time visibility across all accounts
• Staking Operations: Native staking support with institutional controls
• Exchange Connectivity: Direct connections to major exchanges

Institutional Use Cases

Hedge Funds & Asset Managers

• Secure custody of fund assets with auditable controls
• Integration with prime brokerage services
• Automated rebalancing and trading operations
• LP reporting and NAV calculation support

Banks & Financial Institutions

• Qualified custody solutions for client assets
• Integration with existing core banking systems
• Regulatory compliance tooling
• Audit trails for all operations

Exchanges & Market Makers

• Hot/warm/cold wallet architecture
• High-throughput API for trading operations
• Real-time settlement between counterparties
• Liquidity management across venues

Corporate Treasuries

• Bitcoin and digital asset treasury management
• Payment operations and vendor settlements
• DeFi yield strategies with institutional controls
• Multi-entity corporate structure support

Pricing Tiers

Fireblocks operates on a subscription model tailored to institutional needs:

Pricing typically includes:

• Monthly platform fee based on tier
• Transaction fees for operations
• Additional fees for premium features
• Volume discounts for high-activity clients

Getting Started with Fireblocks

Implementation Process

1. Consultation: Discuss use case, compliance requirements, and architecture
2. Contract & Onboarding: Complete agreements and KYB verification
3. Technical Setup: API integration, policy configuration, wallet structure
4. Testing: Sandbox environment testing and security review
5. Go-Live: Production deployment with dedicated support

Integration Options

• REST API: Comprehensive API for all platform operations
• SDKs: Official libraries for Python, JavaScript, Java, and more
• Webhook Notifications: Real-time event notifications
• Console: Web-based interface for manual operations
• Mobile App: Approvals and monitoring on mobile devices

Technical Requirements

• Dedicated API users with appropriate permissions
• Secure key share storage infrastructure
• Network connectivity to Fireblocks endpoints
• Integration with internal systems (optional)

Security Features

Infrastructure Security

• MPC Cryptography: Patent-protected key management technology
• Hardware Isolation: SGX secure enclaves for computation
• Geographic Distribution: Key shares across multiple data centers
• 24/7 Monitoring: Security operations center coverage

Operational Security

• Zero Trust Architecture: No implicit trust, verify everything
• Biometric Authentication: Multi-factor including biometrics
• IP Allowlisting: Restrict access by network origin
• Session Management: Automatic timeout and re-authentication

Compliance & Audit

• SOC 2 Type II: Annual third-party security audit
• SOC 3: Public-facing security attestation
• ISO 27001: Information security management certification
• Penetration Testing: Regular third-party security assessments

Frequently Asked Questions

Fireblocks itself is a technology provider, not a qualified custodian. However, several qualified custodians build on Fireblocks technology, and Fireblocks works with regulated entities to provide compliant custody solutions.

Fireblocks provides security comparable to cold storage (assets are never exposed online) while enabling operational flexibility. MPC key shares are distributed across secure environments, eliminating the risks of traditional cold storage recovery.

Fireblocks clients maintain control of their assets through distributed key shares. The platform architecture ensures no single point of failure, and disaster recovery procedures enable continued operations.

No. Fireblocks' MPC architecture means the company never holds complete keys. Client assets can only be accessed through the client's own key shares combined with Fireblocks' infrastructure shares, requiring active client participation.

Fireblocks supports 70+ blockchains including Ethereum, Bitcoin, Solana, Polygon, Arbitrum, Optimism, Base, and all major networks. New chains are added regularly based on institutional demand.

Typical implementations range from 2-8 weeks depending on complexity, integration requirements, and compliance considerations. Enterprise deployments may require longer timelines.

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