In a significant move to bolster its services, Fireblocks has acquired the crypto accounting firm TRES for a reported $130 million. This acquisition aims to enhance Fireblocks” capabilities in tax compliance and support for institutional clients managing digital assets.
The acquisition, announced via a post on X on January 7, allows the New York City-based company to integrate TRES”s offerings into its platform. Fireblocks will provide clients with both secure asset custody and audit-ready financial intelligence, streamlining digital asset management.
Founded in early 2022, TRES is an advanced financial data and accounting platform tailored for the digital asset sector. It supports more than 280 blockchains and counts notable clients such as Phantom, Dune, and Wintermute. With significant monthly stablecoin settlements reaching hundreds of billions, TRES recognizes the increasing demand for robust blockchain accounting solutions to help institutions maintain compliance.
Michael Shaulov, CEO of Fireblocks, emphasized the necessity for accurate accounting in both crypto-native and traditional firms. He stated, “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.”
As part of the deal, TRES will continue to operate independently, ensuring that its existing services and customer relationships remain intact. This acquisition marks Fireblocks” second significant investment within three months, following its purchase of the wallet provider Dynamic for around $90 million in October.
Additionally, Fireblocks has expanded its partnerships within the crypto ecosystem. Notably, XION, a consumer-focused layer-1 blockchain, has integrated support for Fireblocks, following the launch of the Fireblocks Network for Payments. This coalition includes over 40 major firms, such as Circle, Stripe”s Bridge, and Yellow Card, aimed at creating a cohesive global stablecoin network.
Fireblocks is also collaborating with Singapore Gulf Bank to provide a regulated banking experience for crypto enterprises. This strategic growth through acquisitions and partnerships positions Fireblocks as a significant player in the digital asset infrastructure landscape.
