Fireblocks acquires crypto accounting firm TRES for $130M as it expands offerings

Source: Cryptonews Original Title: Fireblocks acquires crypto accounting firm TRES for $130M as it expands offerings Original Link: Digital asset infrastructure provider Fireblocks has acquired crypto accounting platform TRES to integrate its tax compliance infrastructure and enhance support for institutional clients managing digital assets.

Key Highlights

• Fireblocks has acquired TRES for $130 million in cash and equity
• TRES will continue operating as a standalone product
• The acquisition enables Fireblocks to offer secure asset custody and audit-ready financial intelligence within a single platform

About the Deal

Founded in early 2022, TRES is an enterprise-grade financial data and accounting platform designed for the digital asset industry that supports over 280 blockchains, including high-profile clientele like Phantom, Dune, and Wintermute.

With “hundreds of billions monthly” in stablecoin settlements and “entire treasury flows” coming on-chain, the company believes there’s a growing demand for advanced blockchain accounting protocols for institutions to remain compliant.

“Both crypto-native firms and traditional institutions need clear, accurate accounting and auditability. By offering TRES and Fireblocks together, customers can now run both their digital asset operations and get the financial intelligence they need on one secure, compliant, scalable stack,” Fireblocks CEO Michael Shaulov said.

TRES CEO and co-founder Tal Zackon noted that the financial data platform will continue to operate as a standalone product, with existing services and customers remaining unaffected.

Fireblocks Expansion

With this acquisition, Fireblocks, which already provides crypto custody, transfer, and settlement services to over 2,400 enterprises, has made its second major purchase in three months.

Back in October, the company acquired enterprise-focused wallet provider Dynamic for roughly $90 million. During the same time, a consumer-centric layer-1 blockchain added support for Fireblocks.

This closely followed the launch of the Fireblocks Network for Payments, a coalition of over 40 major firms created to establish a unified global stablecoin network.

Fireblocks is also a partner of Singapore Gulf Bank, which offers a stable, regulated banking experience to crypto companies.