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

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.

According to a Jan. 7 X post from Fireblocks, the $130 million acquisition allows the New York City headquartered firm to offer access to both secure asset custody and audit-ready financial intelligence within a single platform.

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 these 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 was quoted as saying.

In separate comments to Fortune, an anonymous source noted that the deal comprised cash and equity worth $130 million.

Meanwhile, in a blog post, TRES CEO and co-founder, Tal Zackon noted that the financial data platform will continue to operate as a standalone product. As such, its existing services and customers will remain unaffected.

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, XION, a consumer-centric layer-1 blockchain, revealed it had added support for Fireblocks.

It closely followed the launch of the Fireblocks Network for Payments, a coalition of over 40 major firms, including Circle, Stripe’s Bridge, and Yellow Card, created to establish a unified global stablecoin network.

Fireblocks is also a partner of Singapore Gulf Bank, which said at the time that the partnership would allow it to offer a stable, regulated banking experience to crypto companies.