Fireblocks records over $100 million in annual recurring revenue and cements unicorn status

Blockchain, digital asset security and crypto development platform Fireblocks announced that its annual recurring revenues surpassed $100 million in 2022, giving the company unicorn status among startups.

Annually recurring revenue is the recurring subscription revenue that a business earns over time.

The newly crowned unicorn positions itself as the only platform that eliminates a single point of failure and protects its users from cyberattacks, manipulation and human error through multi-party computation (MPC). Meanwhile, its treasury management technology also gives it an advantage.

multi-party calculation

MPC is a security system developed by Fireblocks that overlays software and hardware to enforce security of digital assets. It uses cryptography to allow multiple parties, each holding their own private data, to evaluate a computation in secret before deciding whether to collectively share or deviate from instructions during protocol execution.

Fireblocks reported that in 2022 alone, its MPC was adopted by reputable companies such as BNP Paribas, Six Digital Exchange, Checkout.com, ANZ Bank, MoonPay, Animoca Brands and more than 1,500 organizations.

Treasury Management Technology

Fireblocks also attributes its recent success to its treasury management technology, which provides financial institutions with secure storage to control and access their digital assets, connect to liquidity pools, and transfer crypto or fiat to on-chain counterparties.

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