Fireblocks records over $100M in annual recurring revenue, solidifies unicorn status Fireblocks records over $100M in annual recurring revenue, solidifies unicorn status
Fireblocks justifies its new unicorn status with its growing multi-party computation and treasury mangement services.
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Updated: Sep. 12, 2022 at 4:58 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Blockchain, digital asset security and crypto development platform Fireblocks announced that its 2022 annual recurring revenue exceeded the $100 million mark, giving the company a unicorn status among startups.
Annual recurring revenue is the recurring subscription revenue received by a company over time.
The newly crowned unicorn positions itself as the only platform that eliminates a single point of failure and safeguards its users against cyberattacks, manipulation, and human error using multi-party computation(MPC). Meanwhile, its treasury management technology also gives it an edge.
Multi-party computation
MPC is a security system designed by Fireblocks that layers software and hardware to enforce digital asset security. It uses cryptography to enable multiple parties, each holding their own private data, to assess a computation in secrecy before deciding whether to share or deviate from the instructions during the protocol execution as a collective.
Fireblocks reported that its MPC had been adopted by renowned entities such as BNP Paribas, Six Digital Exchange, Checkout.com, ANZ Bank, MoonPay, Animoca Brands, and more than 1,500 organizations in 2022 alone.
Treasury Management technology
Fireblocks also attributes its latest success to its treasury management technology, which offers secure storage for financial institutions to control and access their digital assets, connect to liquidity pools and transfer crypto or fiat to counterparties on-chain.
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Author 
Cynthia Chung
Cynthia is an avid writer who is fascinated by the potential of blockchain tech. She also resonates with Web3 values, especially creative expression and individual autonomy. Since discovering crypto in 2019, she has dedicated her work towards reporting on developments in the blockchain and crypto space.
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Fireblocks
Fireblocks is an all-in-one platform for building your digital asset business.