Odaily Planet Daily News Fireblocks, an encryption company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based encryption startup whose business includes building blockchain-based systems for financial institutions.
According to sources, Fireblocks paid approximately $10 million to acquire BlockFold. While Fireblocks already works with large financial institutions such as BNY Mellon, BNP Paribas and the Tel Aviv Stock Exchange, it primarily provides them with custody technology. Acquiring BlockFold gives it a way to quickly expand its offerings to such customers, this person said. (Bloomberg)
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