Fireblocks, an Israeli-founded company that provides digital asset infrastructure for financial institutions, plans to cut about 7% of its workforce, or 60 to 70 employees, including dozens in Israel.

Visa is considering an acquisition that would value Fireblocks at about US$2.5 billion, below the company’s US$8 billion valuation in 2022.

Fireblocks denied the report and said a possible deal was “not true at present time.”

The company said affected employees will receive enhanced severance and transition support.

Fireblocks raised US$550 million in a series E round announced in January 2022. It also cut 3% of its staff in early 2024.

Visa has also launched stablecoin products as part of its digital asset efforts.

🔗 Source: Calcalist

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