Crypto firm Fireblocks raises $550 mln, company valued at $8 bln

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Fireblocks, a digital asset infrastructure provider, said on Thursday it raised $550 million from institutional investors, making it one of the largest financing rounds in the cryptocurrency sector in the last few years.

The funding was led by D1 Capital Partners and Spark Capital, with participation from investors such as General Atlantic, Altimeter, Index Ventures and CapitalG, Alphabet's growth fund, Fireblocks said in a statement.All firms confirmed their investment in emails to Reuters.

Decentralized finance refers to that segment of the market which facilitates crypto-denominated financial transactions outside of traditional banks.Fireblocks works with companies and financial institution that want to build cryptocurrencies and digital assets, providing the infrastructure - including wallets - to make the digital assets safe and secure.U.S.

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