Why Fireblocks Just Spent $130 Million on Crypto Accounting Platform TRES

TLDR

• Fireblocks acquired crypto accounting platform TRES for $130 million to enhance tax and compliance services for institutional clients
• Stablecoin settlements now exceed hundreds of billions of dollars monthly, driving demand for blockchain accounting infrastructure
• TRES will continue operating as a standalone product with no changes for existing customers and partners
• The acquisition aims to create a comprehensive treasury management solution combining operations and financial intelligence
• Fireblocks serves 2,400 enterprises and has processed over $10 trillion in transaction volume

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Digital asset infrastructure company Fireblocks has purchased crypto accounting platform TRES for $130 million. The acquisition aims to provide better tax compliance and accounting tools for institutional clients.

Fireblocks announced the deal on Wednesday. The company said the purchase addresses growing demand for blockchain accounting protocols as more enterprises move treasury operations on-chain.

Stablecoin settlements currently exceed hundreds of billions of dollars each month. Many traditional companies now run their entire treasury flows using blockchain technology.

The acquisition will give Fireblocks clients access to audit-ready and tax-compliant financial records. These records will cover their on-chain financial operations through TRES infrastructure.

Michael Shaulov, Fireblocks CEO, said both crypto-native firms and traditional institutions need clear and accurate accounting. The combined platform will let customers manage digital asset operations and obtain financial intelligence in one secure system.

Fireblocks confirmed the $130 million transaction value to Fortune. The company emphasized that compliance remains a central concern for institutions adopting blockchain-based finance.

Shaulov told Fortune the company plans to build a broader treasury management solution. This solution would provide full-spectrum capabilities for clients.

TRES to Operate as Standalone Product

Tal Zackon, TRES CEO and co-founder, said the platform will continue as a standalone product. No changes are planned for existing customers and partners.

Zackon wrote in a blog post that Fireblocks will use its size and resources to accelerate TRES growth. The larger company will also improve customer service, enhance security and enterprise readiness, and deepen technological advantages.

Fireblocks provides crypto custody, transfer, and settlement services to clients. The company partners with approximately 2,400 enterprises.

The firm has supported more than $10 trillion in transaction volume. Fireblocks also offers stablecoin services that help enterprises launch and manage their own stablecoins.

Recent Expansion Moves

The TRES acquisition follows other recent expansion efforts by Fireblocks. In late October, the company acquired and integrated the technology stack of enterprise wallet provider Dynamic.

In November, Fireblocks announced integration with XION, a Layer-1 blockchain designed for mainstream adoption. The company also partnered with Singapore Gulf Bank, a licensed digital wholesale bank regulated by the Central Bank of Bahrain, to support digital asset infrastructure for treasury management and custody.

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