Fireblocks has recently made a public announcement surrounding its revenue. The blockchain security service provider based in New York has reported strong gains in the running year so far.
Fireblocks Reports $100+ Million Revenue
Fireblocks has reported that its business has generated more than $100 million in revenue in the running year. To be exact, the company reported the year 2022’s Annual Recurring Revenue (ARR).
The blockchain security service provider has confirmed that the reason behind the surge in its revenue is the mass adoption of crypto-blockchain technology.
Growing Interest in Crypto-Blockchain Ecosystem
The cryptocurrency ecosystem is ever-growing and its adoption rate has fast-tracked in the past couple of years. Even the crypto downtrend in the running year has not hindered the adoption rate of the crypto-blockchain technology.
The revenue report shared by Fireblocks is a firm answer to those who have been claiming that the cryptocurrency industry would die soon.
Many have tried lowering the confidence and morale of people who have wanted to gain exposure in the cryptocurrency industry.
However, the revenue Fireblocks has shared is a contradiction of claims about investors having negative sentiments about cryptocurrencies.
Growing Interest in Crypto Sector
Fireblocks has confirmed it has witnessed a great rise in public and industrial interest towards three major segments within the crypto-verse. These segments include Web3 technologies, blockchain technologies, and decentralized finance.
Change in Mindset
Although the year 2022 has been tainted with a constant crypto downtrend, the situation for the crypto adoption rate has been phenomenal.
Despite the bearish market sentiments, the interest of people and companies has been rising in these segments.
A great change in people’s mindset has been witnessed versus the mindset a few years back. People are no longer afraid of learning and exploring more within the crypto-verse.
A strong realization of the benefits of interacting with the world of cryptocurrencies and blockchains has been witnessed in recent years.
Therefore, despite the market downtrends, people are interested to learn and know more about the technologies. Over time, almost every major company has sought exposure in the crypto-blockchain industry.
Rather than investing in cryptocurrencies, people are exploring different use cases for cryptocurrencies and blockchain technology.
Crypto-Blockchain Technology is here to Stay
The cryptocurrency industry is constantly growing and industries are finding different ways of interacting with the technology.
This is an assurance that the crypto-blockchain technology is here to stay and it may continue moving forward. This means that the cryptocurrencies introduced and debuting in the crypto-verse are going to stick around permanently.
Fireblocks has revealed that in recent years, multiple mainstream corporations have interacted with the company for crypto-blockchain exposure.
These companies include Wirex, Animoca Brands, MoonPay, Checkout.com, FIS, ANZ Bank, Six Digital Exchange, and BNP Paribas.