Fireblocks Acquires Cryptocurrency Payment Platform First Digital for $100M

Highlighted last month with a valuation of $8 billion fireblocks, stablecoin and digital asset payments technology platform, Israeli First Digitalbought the .

The acquisition will expand Fireblocks’ existing payment capabilities by allowing payment service providers to receive payments in digital currencies.

Thus, 16 employees of First Digital will also join Fireblocks. The terms of the deal have not been disclosed yet, but it is estimated to cost $100 million.

Of the $550 million Fireblocks raised last month, $100 million went to secondary deals. Fireblocks currently employs 300 people and serves over 800 financial institutions. On the other hand, it secures the transfer of over $2 trillion in digital assets.

Ran Goldstein, CEO of First Digital,

In 2018, the crypto market was in trouble and had a very tough winter. We had to make adjustments, laid off 90% of our staff, and officially started from scratch. Since we moved into the world of payments, we’ve been part of a Facebook program and have found ourselves working with many big companies like PayU.

said.

On the other hand, stating that they believe that crypto will be used not only for commerce but also for payments, the CEO said that at the end of 2021, their efforts have paid off. He noted that they have received a lot of attention from many payment companies looking to add crypto payments to their offerings.

Fireblocks CEO Michael Shaulov stated that they have been working with First Digital from the very beginning.

This is our first purchase and it’s important to us, but we won’t be going out and making numerous purchases now. Our focus right now is on integrating First’s multi-industry team. We’re investigating other gains but nothing close.

said.

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