Fireblocks, an enterprise-grade digital asset management platform, has launched Fireblocks for Startups, a self-service suite of tools designed for blockchain startups and small to medium enterprises (SMEs).
The platform offers streamlined treasury management, wallet creation capabilities, and network access. The launch coincides with a 55% increase in venture capital funding for Web3 startups in the first quarter of 2024 and a 50% rise in startup users since piloting the new offering.
Fireblocks for Startups provides a consolidated platform for building Web3 applications and managing digital asset operations, including treasury management tools for securing digital assets, handling day-to-day operations, and connecting with exchanges and decentralized finance protocols. It also offers direct custody wallets-as-a-service and embedded wallet infrastructure.
The suite grants access to the Fireblocks Network, which connects with over 65 blockchains and 35 exchanges, aiming to facilitate secure transfers between parties and potentially accelerate growth for startups. Co-founder and Chief Product Officer Idan Ofrat suggests that the offering addresses security challenges faced by rapidly growing crypto projects.
Fireblocks’ launch raises questions about how blockchain tools could improve and cater to a wider demographic. It posits that startups will no longer need to rely on open-source technologies for in-house wallet solutions or use less proven wallet offerings. The impact on the broader ecosystem of blockchain development will depend on adoption rates and project performance.
