- Fireblocks Acquires the First Digital Payment Platform for $100M
- The digital custody firm will accept and payout in digital currencies.
- Fireblocks revealed digital platform purchase after raising $550M in Series E funding.
As the business market is growing in a wide range, almost all the business giants are now adopting cryptocurrency payments. To be more specific, in order to accept the fast, safe and convenient way of transactions, digital currencies are supporting the businesses to grow their revenue.
In that digital asset custody, Fireblocks officially reveals the acquisition of the First Digital payment platform, an Israeli fintech startup company. Moreover, in-order to accept and permit cryptocurrency payments and to make payouts in digital assets, Fireblocks acquires the digital platform for worth of $100 million.
Fireblocks into crypto payments
After a successful Series E funding, Fireblocks raised over $550 million in the funding rounds involving notable investors. And in the time period of three weeks, Fireblocks plans to purchase the first digital platform. Thus, the main advantage of integrating the digital payment platform, enables Fireblocks to upgrade its existing payment methods.
Furthermore, the digital custody platform will be enabling the payment service providers (PSPs). Thereby accepting and payout cryptocurrency payments in its platform. In addition, as Fireblocks received $550 million in the Series E funding, the overall total value of the fund raised reached up-to $1 billion. Thus, the digital asset custody platform suggests the price valuation will rise to a remarkable value of $8 billion.
However, the CEO of Fireblocks Michael Shaulov states the purpose of acquiring the digital platform,
“First digital payment firm is one of the strongest teams, when it comes to crypto-based payments. Interestingly, First is also similar like Fireblocks, as they structured a technological platform, connecting various payment providers and services. Thereby providing a simplified payment process in cryptocurrencies.”
Thus, as customers approaching the First digital payment platforms will easily adopt crypto payments into their business boosting the transaction revenues.
