Fireblocks has agreed to acquire crypto accounting and tax platform TRES for $130 million, a move aimed at strengthening compliance tools for institutions managing digital assets at scale.
Key Takeaways:
Fireblocks is acquiring TRES for $130 million to strengthen tax and accounting compliance for institutional crypto users. Surging stablecoin volumes and on-chain treasury activity are driving demand for audit-ready blockchain accounting tools. The deal advances Fireblocks’ goal of offering a full-stack crypto treasury and infrastructure platform.The deal comes as on-chain activity continues to expand across corporate treasuries and payment systems.
Rising Stablecoin Volumes Drive Demand for Crypto Accounting Tools
Fireblocks said Wednesday that stablecoin settlements now exceed hundreds of billions of dollars each month, while an increasing number of enterprises are running full treasury operations directly on blockchain networks.
That shift, the company said, has created growing demand for robust accounting and audit infrastructure.
“Both crypto-native firms and traditional institutions need clear, accurate accounting and auditability,” Fireblocks chief executive Michael Shaulov said in a statement.
By combining the two platforms, Fireblocks said customers will be able to manage digital asset operations and generate compliant financial records within a single system.
As part of the acquisition, TRES’ technology will be integrated into Fireblocks’ offering, giving clients access to audit-ready, tax-compliant records covering on-chain activity.
Fireblocks confirmed to Fortune that the transaction value was $130 million, highlighting compliance as a central concern for institutions adopting blockchain-based finance.
Shaulov said the company sees the acquisition as a step toward building a more comprehensive treasury management stack, capable of handling everything from custody and transfers to accounting and reporting.
“We believe that we will be able to create a much broader treasury management solution that is kind of full spectrum,” he said.
TRES chief executive and co-founder Tal Zackon said the platform will continue to operate as a standalone product, with no immediate changes for existing customers or partners.
In a blog post, Zackon said Fireblocks’ scale would help accelerate growth, improve customer service, and strengthen enterprise security.
Fireblocks provides custody, transfer, and settlement services to a wide range of crypto firms and financial institutions.
The company says it works with roughly 2,400 enterprises and has supported more than $10 trillion in transaction volume.
It has also expanded into stablecoin infrastructure, helping companies issue and manage their own tokens.
Fireblocks Builds End-to-End Crypto Stack With Back-to-Back Acquisitions
The TRES deal follows another recent expansion. In late October, Fireblocks acquired and integrated the technology stack of enterprise wallet provider Dynamic, underscoring its push to offer end-to-end infrastructure as institutional adoption of digital assets continues to grow.
In November, Fireblocks also announced that it has integrated XION, a next-generation Layer-1 blockchain built for mainstream adoption.
Furthermore, Singapore Gulf Bank (SGB), a licensed digital wholesale bank regulated by the Central Bank of Bahrain, has partnered with Fireblocks to support its digital asset infrastructure for treasury management and custody.
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