Tuesday, June 6, 2023
No Result
View All Result
Crypeto News
Smarter_way_USA
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos
CRYPTO MARKETCAP
Crypeto News
No Result
View All Result

Fireblocks Sees Over $100 Million In Revenue From Subscriptions

by crypetonews
September 13, 2022
in Crypto Updates
Reading Time: 3 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on Twitter


Although the crypto market is suffering a long-lasted downtrend and investors reflect negative sentiments, crypto adoption seems to be growing on another verge.

Fireblocks, a software-as-a-service (SaaS) company currently operating over 1300 crypto and web 3 businesses, has hit a new high in revenue, indicating crypto use cases continue attracting more businesses worldwide.

Related Reading: Investment Giant Fidelity Could Allow Bitcoin Trading On Its Platform

The company announced on Monday that its Annual Recurring Revenue (ARR) surpassed $100 million only in three years after the firm enrolled its product in the market. The achievement cements its status as a ‘Centaur.’ Centaur is a term used for SaaS startups to symbolize the company has exceeded $100 million in revenue.

The New-York based blockchain security company, Fireblocks offers its software and APIs to businesses to manage treasury, access DeFi projects, mint NFTs and other digital operations. The company hit this ARR milestone through subscriptions to the platform.

Michael Shaulov, founder and CEO at Fireblocks, added in a statement about this achievement;

For the digital asset industry, 2022 has been a year of consolidation as well as tremendous growth. We saw an unprecedented volume of new market entrants, including fintechs, Web3 startups, banks, and PSPs. Because of Fireblocks’ MPC custody and treasury management technology, which has become one of the most fundamental pieces of infrastructure for the digital asset ecosystem, we have seen first-hand the innovation happening among fintechs, Web3 startups, banks, and PSPs who are diligently bringing new digital asset products to market.

This landmark puts the company on the list of Twilio and Slack, which have recorded similar revenue amounts within five years. Notably, It has been only four years since the inception of Fireblocks.

Bitcoin’s price hovers above $22,000. | Source: BTCUSD price chart from TradingView.com

Fireblocks Won ‘Centaur’ Status Via Its Subscriptions And Plans To Expand The Reach

The CEO revealed during the announcement that the company provides an annual license to its customers for using its MPC wallet and other services like institutional staking and accessing decentralized finance (DeFi). Shaulov affirmed that the firm achieved this milestone in the year’s second half. Without mentioning specific figures, he added that Fireblock boosted its revenue by 600% in the previous year and expected to increase the figure by 300% this year.

In attempts to enable a transparent and secure environment for users of the digital ecosystem, over 1500 organization has deployed the technology of Fireblocks in 2022. The MPC-CMP technology of the firm has become the choice of prominent institutions and organizations, including Six Digital Exchange, Checkout.com, BNP Paribas, MoonPay, Animoca Brands, ANZ Bank, FIS, and Wirex.

Related Reading: Hive Blockchain To Mine Other Crypto Assets After Merge

Citing the intention to expand the company’s scale, Shaulov expressed that the engineering team would increase its headcount by 150-300 this year. Currently, the company has 550 employees working.

Featured image from Pixabay and chart from TradingView.com



Source link

Tags: FireblocksMillionrevenueSeesSubscriptions
Previous Post

Coca-Cola, Tomorrowland Launch AR Music World

Next Post

El Salvador lanza dos ofertas de recompra de deuda en medio de la incertidumbre sobre su bono bitcoin

Related Posts

Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal
Crypto Updates

Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal

June 6, 2023
Optimism $OP ‘Bedrock’ Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to ‘Superchain’
Crypto Updates

Optimism $OP ‘Bedrock’ Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to ‘Superchain’

June 5, 2023
Montenegrin Court Reinstates Do Kwon’s Bail; Dismisses Prosecutors’ Appeal
Crypto Updates

Montenegrin Court Reinstates Do Kwon’s Bail; Dismisses Prosecutors’ Appeal

June 5, 2023
Crypto Advocates Fight To Remove ‘Unlawful’ Sanctions On Tornado Cash
Crypto Updates

Crypto Advocates Fight To Remove ‘Unlawful’ Sanctions On Tornado Cash

June 5, 2023
Is Bitcoin Price (BTC) Heading Below $26K?
Crypto Updates

Is Bitcoin Price (BTC) Heading Below $26K?

June 5, 2023
Binance Regulatory Woes: Richard Teng Eyed As Possible Successor To CZ
Crypto Updates

Binance Regulatory Woes: Richard Teng Eyed As Possible Successor To CZ

June 5, 2023
Next Post
El Salvador lanza dos ofertas de recompra de deuda en medio de la incertidumbre sobre su bono bitcoin

El Salvador lanza dos ofertas de recompra de deuda en medio de la incertidumbre sobre su bono bitcoin

Staff at the Dia Art Foundation vote overwhelmingly in favour of forming a union

Staff at the Dia Art Foundation vote overwhelmingly in favour of forming a union

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

UAE Crypto License in Sight: Gemini Exchange Makes Move for Regulatory Approval
Bitcoin

UAE Crypto License in Sight: Gemini Exchange Makes Move for Regulatory Approval

by crypetonews
June 1, 2023
0

Gemini, the popular cryptocurrency exchange founded by the Winklevoss twins, announced its intention to obtain a cryptocurrency service license in...

Trader Who Accurately Called 2023 Crypto Rally Predicts Massive Litecoin (LTC) Surge – Here’s His Forecast

Trader Who Accurately Called 2023 Crypto Rally Predicts Massive Litecoin (LTC) Surge – Here’s His Forecast

May 30, 2023
Banking Technology Innovator NYMBUS Raises $70 Million in Series D Funding

Banking Technology Innovator NYMBUS Raises $70 Million in Series D Funding

May 30, 2023
Three-Time Finovate Best of Show Winner PayNearMe Raises $45 Million in New Funding

Three-Time Finovate Best of Show Winner PayNearMe Raises $45 Million in New Funding

June 5, 2023
Germany Launches Innovative Scheme to Boost Carbon-Free Production in Industries

Germany Launches Innovative Scheme to Boost Carbon-Free Production in Industries

June 5, 2023
Coinbase Sees AI As A Transformative Force In The Crypto Sector

Coinbase Sees AI As A Transformative Force In The Crypto Sector

June 4, 2023
  • Trending
  • Comments
  • Latest
146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

May 17, 2023
What is the Erigon Node Consensus Layer?

What is the Erigon Node Consensus Layer?

February 15, 2023
3 Things We Learned at Tornado Cash Dev Alexey Pertsev’s Trial – CoinDesk : ethereum

3 Things We Learned at Tornado Cash Dev Alexey Pertsev’s Trial – CoinDesk : ethereum

November 23, 2022
Crypto Whales Spend Millions Buying the Dip on PEPE As Prices Drop: On-Chain Data

Crypto Whales Spend Millions Buying the Dip on PEPE As Prices Drop: On-Chain Data

May 12, 2023
Secured #5: Public Vulnerability Disclosures Update

Secured #5: Public Vulnerability Disclosures Update

May 3, 2023
U.S. GDP Grows by 2.6% – What Does This Mean for Crypto? – Blockchain News, Opinion, TV and Jobs

U.S. GDP Grows by 2.6% – What Does This Mean for Crypto? – Blockchain News, Opinion, TV and Jobs

October 27, 2022
PEPE Crypto Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

PEPE Crypto Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

24
BITCOIN: CRASH TO $24,000 GUARANTEED!?!?!?!? 3 HUGE REASONS!! BTC + Crypto Price Prediction Analysis

BITCOIN: CRASH TO $24,000 GUARANTEED!?!?!?!? 3 HUGE REASONS!! BTC + Crypto Price Prediction Analysis

20
⚠️*HUGEEE*⚠️ IT'S MAKE OR BREAK FOR BITCOIN !⚠️Crypto BTC Price Prediction/Cryptocurrency News Today

⚠️*HUGEEE*⚠️ IT'S MAKE OR BREAK FOR BITCOIN !⚠️Crypto BTC Price Prediction/Cryptocurrency News Today

24
Ending Logan Paul's Biggest Scam

Ending Logan Paul's Biggest Scam

40
I ATTENDED A 3 HR 'CRYPTO SCAM' WEBINAR | WFABB iGenius

I ATTENDED A 3 HR 'CRYPTO SCAM' WEBINAR | WFABB iGenius

38
ARE NFTS OFFICIALLY DEAD? NFT COLLAPSE EXPLAINED!

ARE NFTS OFFICIALLY DEAD? NFT COLLAPSE EXPLAINED!

34
Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal

Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal

June 6, 2023
Billionaire Mark Cuban Set To Drop His eBook As An NFT This Week

Billionaire Mark Cuban Set To Drop His eBook As An NFT This Week

June 6, 2023
Why Did Bitcoin BTC Price Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets

Why Did Bitcoin BTC Price Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets

June 6, 2023
Popular Analyst Says Litecoin on the Edge of Breaking Out, Updates Outlook on Ethereum – Here Are His Targets

Popular Analyst Says Litecoin on the Edge of Breaking Out, Updates Outlook on Ethereum – Here Are His Targets

June 6, 2023
Here’s Why LUNC’s Price Could Cross $0.00015 Soon

Here’s Why LUNC’s Price Could Cross $0.00015 Soon

June 5, 2023
Artists’ depictions of climate data can cut through politicisation of science, study finds

Artists’ depictions of climate data can cut through politicisation of science, study finds

June 5, 2023
Crypeto News

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Crypeto News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Videos
  • Web3

LATEST UPDATES

  • Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal
  • Billionaire Mark Cuban Set To Drop His eBook As An NFT This Week
  • Why Did Bitcoin BTC Price Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Blockchain
    • Ethereum
    • Altcoin
    • Mining
    • Crypto Exchanges
  • NFT
  • DeFi
  • Web3
  • Metaverse
  • Analysis
  • Regulations
  • Scam Alert
  • Videos

Copyright © 2022 Crypeto News.
Crypeto News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In