Fireblocks adds Coinbase co-founder to board of directors

The addition of the Coinbase co-founder to Fireblocks’ board followed a $30 million funding round.

Digital asset security platform Fireblocks announced that it would be adding Fred Ehrsam to its board following a recent funding round.

In a Nov. 18 statement, Fireblocks said that Ehrsam, co-founder of crypto exchange Coinbase, would be joining the firm as a board member after a $30 million funding round to expand its global operations. Ehrsam left Coinbase in 2017 and went on to co-found crypto investment firm Paradigm.

“Fireblocks has become the go-to for any business looking to build new digital asset operations or scale existing ones,” said Ehrsam.

“The extraordinary growth of the Fireblocks Network and its team in the last year attests to the enormous value they have unlocked for enterprise and institutional customers.”

This year, Fireblocks launched its Secure Asset Transfer Network, allowing institutions to more efficiently transfer assets on-chain. The platform also recently announced that it has seen more than $150 billion in transferred assets since 2019.

Companies including Revolut, Celsius, BlockFi, PrimeTrust, Genesis, and Nexo have reportedly expanded or launched new digital asset services using Fireblocks’ crypto wallet infrastructure.

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