Fireblocks strengthens on-chain tools
Fireblocks has acquired crypto accounting platform TRES Finance for 0mn, as demand grows for audit and compliance tools among firms moving on chain.
The integration will see Fireblocks’ platform, used by institutions to build and manage digital asset operations, paired with TRES’ financial intelligence to align on-chain activity with existing ERP, ledger and reporting workflows.
“You have a slew of [crypto] companies that either are looking to go public or need to operate in line with fintech or traditional financial standards,” Michael Shaulov, cofounder and chief executive officer of Fireblocks, told Fortune.
The company said the acquisition supports its push to build a more comprehensive treasury management stack, spanning custody, transfers, accounting and reporting.
“Whether you’re a crypto-native business preparing for audit or a traditional institution integrating digital assets into existing financial systems, the outcome is the same: infrastructure that finally speaks finance natively,” Shaulov added.
“Finance and treasury teams work from a single source of truth, accelerating innovation while eliminating parallel processes, unexplained balances and compliance delays.”
The deal marks Fireblocks’ second acquisition in three months, as the firm expands beyond its core digital asset custody and transfer business.
In October, the company, last valued at bn in a 2022 funding round, acquired crypto wallet startup Dynamic for approximately mn.