TechFlow reported, citing Bloomberg and sources familiar with the matter, that Fireblocks Inc., a cryptocurrency firm backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based startup that helps financial institutions build blockchain-based systems.
A person familiar with the deal, who requested anonymity, said Fireblocks paid approximately $10 million to acquire BlockFold. Representatives from both companies declined to comment. While Fireblocks has already partnered with major financial institutions such as BNY Mellon, BNP Paribas, and the Tel Aviv Stock Exchange, primarily offering custody technology services, the acquisition provides a fast way to expand its product offerings to these clients, according to the person.
Founded in 2021, BlockFold specializes in tokenization and smart contract development, serving large financial institutions as clients. Fireblocks and BlockFold have previously collaborated on several projects, including National Australia Bank’s recent cross-border stablecoin transfer.
