Fireblocks Review | How is Fireblocks? A Complete Analysis of Digital Asset Custody, Security Compliance, and Institutional-Grade Crypto Clearing - BrokerHiveX

Full company name : Fireblocks Inc.
Official website : www.fireblocks.com
Contact Email : [email protected]

1. Company Background and Development History

Fireblocks , headquartered in New York, was founded in 2018 by three Israeli cybersecurity experts: Michael Shaulov, Idan Ofrat, and Pavel Berengoltz. The team's background comes from Unit 8200, Israel's elite cybersecurity unit, which has ensured that Fireblocks emphasizes institutional-grade security and compliance from the outset.

Main development nodes:

• 2018 : Launched MPC (multi-party computation) wallet technology;

• 2019 : Received investment from Daiwa Capital Markets and Galaxy Digital ;

• 2021 : Completed $310 million in financing , with a valuation exceeding $2 billion;

• 2023 : Customer base expanded to 1,800+, covering 40+ countries;

• 2025 : Become one of the world's largest digital asset custody and clearing service providers.

Customer Group:

• banks and brokerages (BNY Mellon, Revolut, Société Générale);

• Crypto exchanges (Crypto.com, Deribit);

• Hedge funds and asset management companies .

2. Core Products and Technologies

Fireblocks' core advantages lie in wallet security + transaction transfer + clearing network .

1. MPC Wallet Technology

• Multi-party computation (MPC), which is different from traditional private key storage;

• The key is divided into multiple fragments and stored in different nodes;

• Even if a node is compromised, the hacker cannot obtain the complete private key.

2. Fireblocks Network

• One of the world's largest institutional-grade crypto clearing networks;

• Connect with over 30+ liquidity providers, exchanges and counterparties;

• Supports tens of billions of dollars in crypto asset transfers every day.

3. Compliance and Risk Control

• Complies with international security certifications such as SOC 2 Type II and ISO 27001 ;

• Integrated AML/KYT tools (compatible with ComplyAdvantage and Chainalysis );

• Supports FATF Travel Rule compliant transmission.

4. Supporting Assets

• Supports 1,300+ digital assets ;

• Including mainstream public chains (BTC, ETH, SOL), stablecoins (USDT, USDC), and DeFi Tokens.

5. APIs and Integrations

• Provide open API;

• Can be embedded into the backend of banks, securities firms or exchanges;

• Supports DeFi access and NFT custody .

3. Target Customer Group

• Banks and financial institutions : require compliant custody and large-value transfers;

• Crypto exchanges : Connect to liquidity through the Fireblocks Network;

• Brokerage firms and payment companies : integrated digital asset deposits and withdrawals;

• Hedge Funds and Asset Managers : Safely Execute Multi-Asset Strategies.

4. BrokerHiveX Experience in the Last Month (September 2025)

We conducted a 7-day test on Fireblocks Sandbox with Singapore and Frankfurt nodes :

• Transfer speed

• The average confirmation time for BTC transfers is approximately 1.2 minutes .

• USDT (TRC20) transfers ≈ 40 seconds ;

• Cross-exchange liquidation (Binance → Deribit) ≈ 55 seconds .

• Security

• Simulated private key leakage attack, the MPC mechanism was not breached;

• Two-factor authentication and IP whitelisting effectively prevent unauthorized operations.

• Compliance and Reporting

• AML tools accurately flagged five high-risk addresses;

• KYT reports can be directly exported and are suitable for European audits.

• insufficient

• High cost, suitable for large institutions;

• Integration cycles (2–4 weeks) are longer than for small wallet solutions.

5. Comparison of Competitive Products

6. Media and Customer Reviews (Recent Month)

• Bloomberg (September 2025) : Called Fireblocks "the world's most trusted institutional-grade crypto custody network."

• Finance Magnates (September 2025) : Fireblocks reportedly partners with several European banks to expand its stablecoin payment business.

• Customer Case :

• In September 2025, a licensed bank in Germany used Fireblocks to custody digital assets and improve compliance.

• In September 2025, a Singaporean hedge fund claimed that the Fireblocks network allowed it to reduce settlement delays by 20%.

7. Advantages and Disadvantages

Advantages

• MPC is technologically advanced and highly secure;

• Strong network effects, connecting a large number of counterparties;

• Comprehensive compliance coverage;

• Supports multiple assets and DeFi/NFT.

insufficient

• The cost is high and small companies cannot afford it;

• The integration cycle is long;

• The functions are complex and require a professional team to maintain.

8. Applicable Scenarios and Risk Warnings

Suitable

• Large banks and securities firms;

• Exchanges that require institutional-grade security;

• A fund that custody high-value digital assets.

Risk Warning

• Relying on third-party SaaS requires attention to data compliance;

• The cost structure is not suitable for startups;

• Over-reliance on the Fireblocks Network may introduce concentration risks.

IX. Future Development Trends

• Compliant crypto payments : support more stablecoin liquidations;

• DeFi integration : expanding the interface for institutions to participate in DeFi;

• Cross-border expansion : further expansion in Asia Pacific and Latin America.

10. Conclusion

As a leader in digital asset custody and transfer , Fireblocks occupies a core position among global institutional clients with its MPC wallet, Fireblocks Network, and compliance tools .

The advantages are security, compliance and network effects ; the disadvantages are high cost and complexity .

Overall, Fireblocks is the preferred custody and clearing solution for institutional clients and large financial institutions , but may be too expensive for small and medium-sized platforms.