Israeli Firm Fireblocks Denies Sale to Visa for $2.5 Billion
Translated & summarized from Calcalist by baba
Israeli digital asset firm Fireblocks has denied reports of an impending $2.5 billion acquisition by U.S. payments company Visa. The company stated the rumors were "new to us and not accurate at this time." This potential sale price is significantly lower than Fireblocks' $8 billion valuation from January 2022. Founded in 2017, Fireblocks provides infrastructure for managing and transferring digital assets for financial institutions.
The story in 5 lines · by baba
- Fireblocks denies reports of a $2.5 billion acquisition by Visa, calling the rumors inaccurate.
- The reported acquisition price is 69% lower than Fireblocks' $8 billion valuation in 2022.
- Visa is reportedly in talks to acquire Fireblocks for approximately $2.5 billion.
- Fireblocks provides digital asset infrastructure for financial institutions.
- The company was founded in 2017 by Michael Shaulov, Idan Ofrat, and Pavel Berengletz.
Israeli digital asset infrastructure company Fireblocks has denied reports that U.S. payments giant Visa is in talks to acquire it for approximately $2.5 billion. A spokesperson for Fireblocks stated, "We are aware of the rumors about an acquisition by Visa. This is new to us and not accurate at this time."
The reported deal comes at a significantly lower valuation than Fireblocks' previous funding round. In January 2022, the company raised $550 million at an $8 billion valuation, bringing its total reported capital raised to about $1.04 billion. If the Visa deal were to materialize at $2.5 billion, it would represent a decrease of about 69% from its last reported valuation.
Founded in 2017 by Michael Shaulov, Idan Ofrat, and Pavel Berengletz, Fireblocks develops a platform enabling banks, crypto exchanges, fintech firms, and financial institutions to safeguard, transfer, and manage digital assets. Its technology includes digital wallet infrastructure, transaction security, and managing fund transfers on blockchain networks. In recent years, the company has expanded into stablecoin payments and asset tokenization.
A potential acquisition by Visa could align with the payments company's efforts to broaden its blockchain and stablecoin payment operations. Fireblocks' infrastructure for digital asset management and transfer could provide Visa with existing capabilities, potentially saving it the need to develop them internally. Fireblocks reported its annual recurring revenue (ARR) surpassed $100 million in September 2022. The company also made two acquisitions: Dynamic, which provides digital wallet infrastructure, and TRES Finance, which develops accounting and financial reporting solutions for digital assets, in 2025 and 2026 respectively, with reported deal values around $90 million and $130 million.
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