Digital asset management platform Fireblocks has raised $133 million in Series C funding.

The New York based company said it would use the money to help connect established banks and FinTechs with crypto capital markets.

This brings the infrastructure provider’s total funding to date to $179 million.

Fireblocks said their platform allows banks and FinTechs to deploy custody, tokenization, asset management, trading, lending and payment solutions across public and private blockchain networks.

Fireblocks claimed it services 200 financial institutions and has secured over $400 billion in digital assets.

Investors in the round included Coatue, Ribbit, and Stripes alongside strategic investments from The Bank of New York Mellon (BNYM) and SVB.

Existing investors include Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital and Cyberstarts Ventures.

The news comes as the overall value of crypto currencies has reached record levels, as they see increased adoption from large companies such as Tesla.

Strategic investor BNYM formed a digital asset division in February 2020 to help its clients invest in cryptocurrencies.

"Developing products to bridge digital and traditional assets is foundational to the future of custody,” said Roman Regelman, Chief executive asset servicing and head of digital, BNY Mellon. "Following significant due diligence and market research, we recognize Fireblocks as a market leader in providing secure technology to support digital asset services."

Michael Shaulov, chief executive at Fireblocks, said: "FinTechs and banks require not only a specialized custody and settlement infrastructure to ensure customers funds are safely managed, but a platform that enables new lines of digital offerings.”

He added: "While we have no plans to become a bank, we believe our infrastructure will lend itself perfectly to power an entirely new era of financial services.

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