Fireblocks Acquires TRES Finance for US$130 Million…Strengthening Institutional Virtual Asset Accounting Capabilities

Digital asset infrastructure company Fireblocks has expanded its services for institutional clients by acquiring crypto accounting and financial reporting platform TRES Finance. The deal is interpreted as a sign that Fireblocks is moving to build an integrated infrastructure that covers accounting and compliance in addition to asset custody and transfers.

On the 7th (local time), according to Cryptopolitan, Fireblocks said it acquired Israel-based crypto accounting platform TRES Finance in a deal of approximately US$130 million in cash and equity. This acquisition is its second in three months, following the acquisition of crypto wallet startup Dynamic for about US$90 million in October last year.

Fireblocks has provided infrastructure for corporations and institutions to custody and transfer digital assets but lacked data products that analyze and manage detailed asset holdings. The company plans to integrate TRES Finance's accounting and financial reporting technology into its existing platform to fill this gap.

Michael Shaulov, co-founder and CEO of Fireblocks, said, "More cryptocurrency companies are preparing to go public or must operate according to fintech and traditional finance standards," adding, "In such an environment, accounting and reporting capabilities are becoming essential."

Tal Zackon, co-founder and CEO of TRES Finance, said that joining Fireblocks would enable global expansion. He explained, "We will be able to extend the global accounting infrastructure that the TRES team has built to a wider scope," and "We will contribute to building an end-to-end financial stack that institutions can rely on as they move into an on-chain environment."