According to a press release issued on July 25, 2024, the new toolset called “Fireblocks for Startups” is designed to help startups build and launch Web3 products quickly and effectively.

This toolkit aims to increase the operational efficiency of startups by providing solutions in critical areas such as treasury management, self-custody, private key storage and secure digital asset transfers.

Fireblocks Co-Founder and Product Director Idan Ofrat, in his statement about the introduction of the new toolset, stated that the short history of the cryptocurrency world has gone through periods of hypergrowth during market rises of successful projects, and security was often neglected in this process.

“While development teams focus solely on the stability of the frontend, security is often put on the back burner,” Ofrat said. “Fireblocks for Startups ensures that innovation is always compatible with security and provides blockchain developers with a robust and accessible infrastructure without technical and operational complexity,” he said.

This statement highlights Fireblocks’ goal of combining security and innovation, allowing startups to grow safely and effectively.

The introduction of this new toolset comes at a time when there is a significant increase in early-stage investments in Web3 startups. In the first quarter of 2024, the total volume of such investments increased by approximately 55%.

While this increase points to the rapidly growing and developing structure of the Web3 ecosystem, the solutions offered by Fireblocks aim to provide the support and infrastructure that startups need during this growth process.

Since Fireblocks launched the pilot version of its startup toolkit, there has been a 50% increase in the number of startups using the Web3 infrastructure platform.

Approximately 25% of the company’s current customers identify as small and medium-sized businesses (SMBs), which include names such as TaxNodes, Dendra and Kunga. These data show the impact of Fireblocks’ strategic steps and solutions towards startups in the industry.

Fireblocks has aggressively continued its expansion strategy in 2024. In June, a partnership with Coinbase International allowed it to offer derivatives and trading products to retail and institutional investors. It also introduced a new unit that began offering institutional crypto custody services in the US a month ago.

Adam Levine, Fireblocks’ Senior Vice President of Corporate Development, noted that the lack of qualified custodians covering digital assets in the U.S. is becoming increasingly apparent.

Fireblocks has been operating as a Web3 platform known for its digital asset custody and treasury management solutions since its founding in 2018.

Since its founding, the company has facilitated $6 trillion in digital asset transfers and served a wide portfolio of customers by collaborating with more than 30 exchanges and 55 banks.

In this context, the solutions offered by the new tool set aim to make significant contributions to the development of enterprises in the sector by increasing security and efficiency in digital asset management.