Crypto Gloss

Fireblocks

Fireblocks is a leading institutional digital asset security and infrastructure company founded in 2018 by Michael Shaulov (CEO), Idan Nativ (CTO), and Pavel Berengoltz (CTO). Based in New York, Fireblocks provides a platform for financial institutions to securely store, transfer, and settle digital assets using Multi-Party Computation (MPC) cryptography rather than traditional single-key cold wallets. With over 1,500 institutional clients including major banks, hedge funds, and exchanges, Fireblocks has become the dominant backend custodial infrastructure for the institutional crypto market.

Background

The founding team previously worked in cybersecurity (Michael Shaulov was co-founder of Lacoon Mobile Security, acquired by Check Point). They applied enterprise security principles to private key management, recognizing that hardware security modules and cold wallets had operational limitations for institutions needing frequent settlement. The result was an MPC-based system eliminating single points of failure while enabling near-real-time settlement.

Key Products

Product Description
MPC Wallet Cryptographic key splitting across multiple parties; no single key exists
Fireblocks Network Pre-vetted transfer network connecting 1,500+ exchanges, OTC desks, and custodians
Policy Engine Customizable multi-approval workflows for transaction governance
Tokenization Platform Tools for issuing and managing tokenized assets and stablecoins
DeFi Access Secure interface for institutions to interact with DeFi protocols
NFT Infrastructure Enterprise tooling for NFT minting and management

MPC vs. Cold Wallet

Traditional custody uses hardware wallets or cold storage requiring physical key signing. Fireblocks uses MPC-TSS (Threshold Signature Scheme), splitting key shares across the client, Fireblocks, and an optional third-party — meaning no complete private key ever exists in one place. This enables fast settlement without sacrificing security.

Scale and Reach

  • $4 trillion+ in digital assets transferred annually
  • 1,500+ institutional clients
  • Connected to 50+ blockchains
  • Clients include BNY Mellon, BNP Paribas, ANZ Bank, Revolut, and leading crypto-native firms

Related Terms

Sources