Fireblocks acquires crypto accounting platform TRES Finance for $130 million

PANews reported on January 7th that, according to Fortune magazine, blockchain infrastructure company Fireblocks has reached an agreement to acquire crypto accounting platform TRES Finance for $130 million in cash and equity. This is Fireblocks' second acquisition in three months, following its acquisition of crypto wallet startup Dynamics for approximately $90 million last October. Fireblocks co-founder and CEO Michael Shaulov stated that the acquisition of TRES will help the company provide enterprise clients with more comprehensive financial management solutions.

Founded in 2022, TRES Finance's platform helps corporate finance executives and accountants track the flow of crypto assets across multiple platforms and wallets. Its clients include venture capital firm CoinFund, analytics platform Nansen, and the development team behind the Phantom crypto wallet. TRES completed an $11 million funding round in late 2023, and co-founder and CEO Tal Zackon stated that the acquisition price was higher than the company's most recent valuation.