First DAG

Company Overview

Snapshot

Founded in January 2017, First DAG operates with 1–10 employees. The company raised $22 million across one funding round from 6 investors. In February 2022, First DAG was acquired by Fireblocks.

Business overview

First DAG develops a global digital payment platform designed for payment service providers (PSPs) and acquirers. Its core technology provides developers with tools to facilitate secure merchant acceptance of digital payments, including Diem, central bank digital currencies, and stablecoins. The platform offers a wide range of services and tech products, such as liquidity provision (OTC), a digital-asset enterprise wallet, algorithmic trading, custodian services, asset management, and advisory services, serving the Fintech and eCommerce sectors.

Strategic signal

In February 2022, First DAG was acquired by Fireblocks for $100 million. This acquisition signals a consolidation within the digital asset infrastructure space, demonstrating Fireblocks' strategic move to enhance its offerings for institutional clients by integrating First DAG's digital payment platform and expertise in Diem and stablecoin acceptance.

Company Intelligence Q&A

What was a significant corporate milestone for First DAG?

In February 2022, First DAG was acquired by Fireblocks for $100 million, marking a key exit for the company.

When did First DAG launch institutional Diem infrastructure?

In February 2021, Fireblocks and First DAG launched institutional Diem infrastructure for Virtual Asset Service Providers (VASPs).

What solution did First DAG build for merchants?

In February 2021, First DAG developed a solution enabling merchants to accept the Diem stablecoin.

What was First DAG's reported fundraising activity in August 2021?

In August 2021, First DAG was reportedly looking to raise a round of over $40 million.