Fireblocks

Fireblocks is the digital asset infrastructure layer trusted by over 2,200 financial institutions, exchanges, and fintechs worldwide. Built on MPC-CMP cryptography that eliminates the single point of private-key failure, the platform lets organizations custody, transfer, stake, tokenize, and settle digital assets across more than 90 blockchains — including deep, growing support for Solana — without ever exposing a complete private key.

How Fireblocks Works

At the core of the platform is Multi-Party Computation with the CMP protocol (MPC-CMP). Rather than storing a private key in one location, Fireblocks splits key material into independent cryptographic shares distributed across separate hardware-isolated environments. Each share has its own randomness source and signs transactions cooperatively with the other shares, meaning no single party — including Fireblocks itself — can unilaterally initiate a transaction. The MPC-CMP signing code has been open-sourced, allowing independent cryptographic review. This architecture directly addresses the class of compromise that has drained billions from exchange hot wallets and cold-storage setups alike, since there is no assembled key to steal, copy, or guess.

Transaction governance sits in the Policy Engine, which allows organizations to define approval hierarchies, transaction-size limits, whitelist programs and counterparties, and multi-stakeholder quorums for sensitive operations. The engine applies across transfers, DeFi interactions, staking, and token operations — providing the compliance and audit trail that regulated institutions require before touching any on-chain activity.

The Fireblocks Network, a private routing layer connecting over 2,000 institutional counterparties, eliminates address-copy risk for interinstitutional transfers by routing assets between verified Fireblocks vaults without exposing raw on-chain addresses.

Product Surface

Fireblocks has expanded well beyond pure custody into a broad institutional infrastructure platform:

• Wallet-as-a-Service / Embedded Wallets: white-label wallet infrastructure for fintechs and consumer apps
• Treasury Management: automated sweeping, multi-vault organization, real-time balance visibility
• Off-Exchange Settlement: collateral remains in institutional custody while exchanges recognize it as active margin, used by derivatives desks and trading firms
• Staking: native staking for Ethereum, Solana, and Polygon via an integrated validator marketplace, plus liquid staking protocols such as Lido
• Tokenization: end-to-end token issuance, distribution, and compliance controls
• Agentic Payments Suite: infrastructure enabling AI agent wallets and automated payment flows for PSPs and fintechs
• Fireblocks Earn: yield on stablecoin balances through on-chain lending
• Flow / Stablecoin Payments: merchant and payroll stablecoin acceptance infrastructure across 100+ countries and 60 currencies, processing $200 billion in stablecoin flows monthly

There is no native Fireblocks token.

Solana Integration

Fireblocks has made Solana a first-class citizen in its infrastructure stack. The April 2025 expansion announcement detailed three major additions:

Native Program Calls bring decoded transaction transparency and policy enforcement directly to Solana smart contract interactions. Treasury teams can whitelist approved programs, monitor execution in real time, and extend approval windows for institutional workflows — without routing through a third-party abstraction layer.

Gasless Transactions let organizations designate a single vault as the central fee payer across all Solana operations. Rather than pre-funding dozens of wallets with SOL, the fee payer mechanism automates gas management and eliminates a common operational bottleneck for enterprises running high-frequency Solana workloads.

Solana Tokenization supports the full SPL Token Extensions standard, including Close Mint Account, Pause Functionality, Default Account Whitelisting, Permanent Delegate, and Metadata Pointer. Institutions can issue stablecoins, fund tokens, or compliance-scoped assets directly on Solana with controls baked into the token itself.

Fireblocks handled a 1,000% spike in Solana traffic during market stress events with no issues or customer impact, demonstrating the operational headroom of the integration. During the largest liquidation event in crypto history — $19.5 billion in October 2024 — Solana processed 100,000 TPS inbound while maintaining sub-penny fees and 400ms block times without interruption.

For SOL staking, Fireblocks operates an integrated validator marketplace featuring Figment, Kiln, Galaxy Digital, P2P.org, and Blockdaemon, each available as one-click staking partners directly from the Fireblocks console. Institutions can stake from existing vaults without a separate asset transfer, monitor rewards in real time, and export compliance-ready reporting. A bring-your-own-validator option accommodates institutions with existing validator relationships. A public Solana Staking SDK on GitHub enables developers to integrate SOL staking programmatically.

Scale and Business

Fireblocks has processed over $10 trillion in cumulative digital asset transactions across its 2,200+ institutional clients. The roster includes major global financial institutions — ABN AMRO, BNY Mellon, BNP Paribas — alongside crypto-native platforms like Revolut, Checkout.com, and Visa. The company reported $124 million in revenue for 2024.

Total fundraising stands at $1.04 billion across six rounds from approximately 40 investors. The $550 million Series E closed in early 2022 at an $8 billion valuation, making it one of the largest rounds in digital asset infrastructure history. As of late 2025, Reuters and The Information reported early-stage conversations with banks regarding a potential 2026 IPO; Fireblocks has not officially confirmed a public offering timeline.

Blockchain coverage spans 90+ networks, with named support for Ethereum, Solana, Tron, Avalanche, Polygon, Arbitrum, Base, and BNB Chain.

Team

Fireblocks was co-founded in 2018 by three executives who spent two decades in enterprise cybersecurity: Michael Shaulov (CEO), Pavel Berengoltz (CTO), and Idan Ofrat (CPO). Shaulov previously co-founded Lacoon Mobile Security, acquired by Check Point, where he led mobile and cloud security products. Berengoltz and Ofrat share that Check Point background. The founders have described their move into blockchain infrastructure as a direct application of the adversarial security thinking they developed in enterprise environments — the problem of key management on-chain maps closely to the key management problems they solved in mobile and cloud security.

Solana Fit

Fireblocks occupies an uncommon position in the Solana ecosystem: it is not a native Solana protocol, but it is the compliance and custody gateway through which institutional capital enters the network. Banks and asset managers that cannot interact with Solana's on-chain infrastructure directly — due to key management requirements, approval workflow mandates, or regulatory custody standards — do so through Fireblocks. The combination of native program call transparency, SPL Token Extensions support, sub-cent gasless transaction management, and an integrated SOL staking marketplace makes Fireblocks the most fully featured institutional on-ramp to Solana available from a single vendor.