Fintech PR
Fireblocks Emerges From Stealth Mode With $16 Million in Funding to Help Institutions Secure Digital Asset Movement
Fireblocks (www.fireblocks.com), an enterprise platform for securing digital assets in transit, announced today its launch out of stealth mode with $16 million in Series A funding from Cyberstarts, Tenaya Capital, Eight Roads (the proprietary investment arm of Fidelity International), Swisscom Ventures and MState.
Fireblocks’ customers, which count some of the largest institutional digital asset trading operators like Galaxy Digital, Genesis Global Trading and more, use the platform to safeguard the digital assets in its portfolio as it is moved across exchanges, OTCs, counterparties, hot wallets, and custodians. Currently, Fireblocks is integrated with 15 digital asset exchanges and offers support for over 180 cryptocurrencies, tokens, and stablecoins.
More than $3B in digital assets were stolen by hackers over the last 18 months due to private key theft, spoofing, and compromised credentials. Recently, Binance, the largest cryptocurrency exchange in the world lost $40MM in bitcoin due to an insecure hot wallet and compromised API credentials. Founded by Michael Shaulov and Pavel Berengoltz,whose mobile security company Lacoon Mobile Security was acquired by Check Point, and Idan Ofrat, the VP R&D of C4 Security which was acquired by Elbit Systems, Fireblocks aims to eliminate the root cause of digital asset hacks and scams.
“While Blockchain based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber attacks and human errors,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “We built a platform that secures the process and simplifies the movement of funds into one or two steps.”
Joined by top security engineers from Symantec, Trusteer, IBM security and leading cryptography advisor, Prof. Ran Canetti, Fireblocks is introducing the first patent-pending Secure Transfer Environment that works with a Hot Vault system. Together, it enables digital assets to be easily transitioned from any storage solution to be primed for immediate settlement and transfer on the blockchain.
“Moving digital assets 24/7, across the globe, uninterrupted, while meeting all enterprise security requirements is industry changing,” said Ivan Brightly, CISO of Galaxy Digital.” For digital asset trading operators, the Fireblocks platform provides a robust security system for digital assets, whether stored or in transit.
“Sitting as part of the broader Fidelity group, we realize that cybersecurity is crucial in the adoption of blockchain and digital assets,” said Davor Hebel, Partner, Head of Eight Roads Ventures Europe. “We are excited to support the Fireblocks team as it develops a cutting edge technology that will help propel digital assets trading to the next level of evolution, enabling huge improvements in operational efficiencies, security, and trust.”
“Securing Blockchain based assets is one of the key challenges in modern Cybersecurity warfare, and it requires heterogeneous expertise in mathematics, system level programming and years of hands-on Cybersecurity experience,” said Gili Raanan, Partner at Cyberstarts and Sequoia Capital. “The Cyberstarts team is thrilled to partner with Michael, Idan & Pavel, who amazed us with their technology breakthrough to eliminate risk from digital assets management.”
SOURCE Fireblocks
QINGDAO, China, Nov. 18, 2024 /PRNewswire/ — A news report from chinadaily.com.cn:
Important in Qingdao’s development strategy, Laoshan district is a city of science and technology that is a fertile ground for innovation and a number of strategic emerging industries and future industries.
In 1994, the initial batch of high-tech enterprises in Qingdao began to congregate in Laoshan. Over the past 30 years, Laoshan has focused on expanding and strengthening the value chains of seven key industries including artificial intelligence, virtual reality, and modern finance.
The district has attracted a large number of innovative enterprises, including nine unicorn companies, 28 nationally recognized specialized and new “little giant” enterprises, 47 provincial-level gazelle enterprises, and 920 high-tech enterprises, all of which are among the top in the city in terms of quantity.
Laoshan district currently has the highest density of scientific and technological innovation in Shandong, with 178 high-tech enterprises per 10,000 companies, 52 national and provincial-level scientific research institutions, and 160 academicians and high-level talents.
By 2023, the proportion of the output value of high-tech industries in Laoshan district to the total output value of large-scale industries reached 86.55 percent, with the leading industry scale exceeding 180 billion yuan ($25.33 billion). Laoshan district has been selected as one of the nation’s top 100 industrial zones for two consecutive years.
Taking virtual reality as an example, as early as 2016, Laoshan district proposed that it become China’s virtual reality industry capital. In 2022, Qingdao constructed an industrial park featuring virtual reality in Laoshan, which has a planned area of over 2,000 mu (133.33 hectares), aiming to create an internationally leading highland for the virtual reality industry.
With the establishment of the industrial park, Laoshan district has vigorously attracted industry-leading enterprises and high-growth companies, as well as top talents in virtual reality. Currently, the park has attracted leading consumer-facing companies such as Douyin Pico and Dapeng VR, as well as core supporting enterprises such as electroacoustic components manufacturer GoerTek and Chinese virtual reality headset maker Pico. Shipments of high-end VR products from leading companies in the park account for over 80 percent of the domestic market.
In 2023, the scale of the virtual reality industry in Laoshan district surpassed 18 billion yuan, a year-on-year increase of 50 percent, and the virtual reality industry cluster was selected as a provincial-level future industry cluster.
Photo – https://mma.prnewswire.com/media/2560110/QINGDAO.jpg
View original content:https://www.prnewswire.co.uk/news-releases/qingdaos-laoshan-district-boosts-innovative-growth-302308048.html
SHENZHEN, China, Nov. 18, 2024 /PRNewswire/ — Kinghood Group’s Smart Gold Store was honoured with the Certificate of the World’s First Gold Recycle Smart Terminal and made its global debut at the Kinghood Group Smart Retail Strategy launch ceremony on October 25, marking a milestone in the digitalization of gold consumption.
During the event, Zhou Bingfeng, Researcher at the Institute of Computer Science and Technology of Peking University and Head of the expert group; and Liu Dongao, Deputy Director of ZKHC (Beijing), presented the Certificate of the World’s First Gold Recycle Smart Terminal, along with the expert’s evaluation report.
The report affirmed Kinghood’s pioneering innovation in commercial gold recycling technology, which enhances gold testing efficiency, promotes sustainability, and improves accessibility and user experience.
Kinghood has been a trailblazer in the industry since 2019, debuting the world’s first generation of Smart Gold Store with a unique machine, namely ‘Gold ATM Terminal’, which integrates purchasing, customization and recycling services into a single platform. It focuses on offering lightweight gold products that resonate with younger consumers’ demand.
Kinghood’s Smart Gold Store (International Version) was officially launched in July 2024, and swiftly gained industry recognition by winning the Manufacturing Innovation Award at the 2024 JWA Sustainability Awards, organised by Informa Markets Jewellery.
The international version of the Smart Gold Store features advanced hardware, including high-precision electronic scales compatible with major global measurement units; and a universal detector with an accuracy of 0.01%. The system supports mobile phone registration in 200+ countries, multi-currency payments in 100+ countries and real-time price docking with the international gold trading markets. It can be customized to diverse regulatory, measurement and language requirements worldwide.
Looking ahead, Kinghood is committed to tailoring localized services to specific countries and regions, enhancing customer satisfaction through AI-driven customer service systems.
With the successful operation of its Macau store and the upcoming Hong Kong branch, Kinghood aims to extend its operational excellence beyond these regions and introduce China’s innovative technology in gold to the global stage.
Mr. Guan Enci, Chairman of New Green Box Pavilion Centre Limited and Kinghood’s Macau partner, commented, “Kinghood continuously drives advancements in science, technology and culture. The Smart Gold Store successfully integrates gold retailing and recycling services into a seamless experience, representing one of their significant innovations.”
Mr. Huang Shikun, Chairman of Kinghood Group, emphasized Kinghood’s dedication to innovation over the last 18 years since establishment, pioneering cutting-edge technologies and products that invigorate the gold industry. “Through collaborating with industry peers, Kinghood aims to spearhead a new era of smart gold solutions, setting a global benchmark for excellence and innovation.”
About Kinghood Group
Founded in 2006, Shenzhen-based Kinghood Group is an integrated industrial service provider encompassing the entire gold jewellery value chain. Its key businesses include gold recycling, gold retail and product customization.
Photo – https://mma.prnewswire.com/media/2560040/Kinghood_Group_s_Smart_Gold_Store.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-spotlight-on-shenzhen-gold-enterprises-innovative-technology-302307966.html
BEIJING, Nov. 18, 2024 /PRNewswire/ — During the recently-concluded seventh China International Import Expo (CIIE), Jing’an District of China’s Shanghai has held a series of investment promotion activities in an attempt to showcase its unique charm and unlimited business opportunities.
The district launched the “Quality Products Import Demonstration Zone” during the this year’s CIIE, the first of its kind in Shanghai, and introduced the “1+N” industry high-quality development policy toolkit, covering trade, finance, professional services, data intelligence, cultural creativity, life and health, etc., aiming to build an open and shared industrial ecology.
In recent years, the amount of intended purchase orders reached by Jing’an District at the CIIE has repeatedly hit new highs. During the CIIE this year, the district claimed the largest quantity of intended purchase orders among all districts in Shanghai.
This year, 52 companies from Jing’an participated in the CIIE. The district saw ten groups of companies reach broad cooperation consensus. Key exhibitors and buyers, such as L’Oreal, Inditex, and doTERRA, signed a series of procurement and cooperation agreements. About 12 high-quality investment projects with an estimated investment of about 1 billion yuan successfully settled in the district.
An official with Jing’an District said that Jing’an warmly welcomes friends at home and abroad to come to Jing’an, and hopes to work together with enterprises to promote the high-quality development of the district.
Original link: https://en.imsilkroad.com/p/343156.html
Video – https://mma.prnewswire.com/media/2560006/video.mp4
View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-jingan-district-of-chinas-shanghai-shines-at-import-expo-302307891.html
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