Fireblocks launches Web3 startup toolkit amid a surge in new ventures

The number of startups using the Web3 platform has already increased by some 50%, according to Fireblocks.

Fireblocks, the Web3 infrastructure platform, launched a suite of tools specifically designed for startups amid a proliferation of early-stage blockchain ventures, according to a July 25 press release. 

The toolkit — Fireblocks for Startups — is designed to help startups quickly build and launch Web3 products and includes solutions for treasury management, self-custody, private key storage, and secure digital asset transfers, the company said.

“The short history of crypto shows that successful projects — whether crypto exchanges, DeFi bridges, or NFT platforms — go through periods of hypergrowth during market upswings, with development teams focused solely on maintaining front-end stability while neglecting security in the process,” Idan Ofrat, co-ffunder and Chief Product Officer of Fireblocks, said in a statement.

“Fireblocks for Startups ensures innovation is always in lockstep with security, providing a robust and accessible infrastructure for blockchain builders to build on without the technical and operational complexity,” Ofrat said.

The rollout follows a surge in early-stage venture investments in Web3 startups, with total investment volume jumping some 55% in the first quarter of 2024, according to the statement.

Since launching a pilot version of its startup toolkit, Fireblocks has already seen a 50% uptick in the number of startups using its Web3 infrastructure platform, according to the statement. Approximately 25% of Fireblocks’ customers are now startups or small-to-medium enterprises (SMEs), including names such as TaxNodes, Dendra, and Kunga, it said.

Fireblocks has been aggressively expanding its operations in 2024. In June, Fireblocks partnered with Coinbase International to offer derivatives and trading products to retail and institutional investors. One month prior, Fireblocks announced the launch of an institutional crypto custody arm in the US.

 “It is increasingly clear that there is a lack of qualified custodians in the United States covering digital assets,” Adam Levine, senior vice president of corporate development at Fireblocks, said in May.

Related: Fireblocks adds Coinbase International for perpetual futures, spot trading

Founded in 2018, Fireblocks is an enterprise Web3 platform best known for its digital asset custody and treasury management solutions. According to the company, it has facilitated the transfer of $6 trillion in digital assets since inception and serves over 30 exchanges and 55 banks in the digital asset space.

Magazine: When Musk Empire listing? Find love in The Sandbox and more: Web3 Gamer