Fireblocks has acquired crypto accounting firm TRES in a deal valued at approximately $130 million, as the digital asset infrastructure provider continues to broaden its product suite for institutional clients.
The acquisition is aimed at integrating TRES’ crypto accounting and tax compliance capabilities into Fireblocks’ existing platform, strengthening its offering for institutions that manage large-scale digital asset operations. The deal, which includes a mix of cash and equity, was confirmed by an anonymous source speaking to Fortune.
Founded in early 2022, TRES is an enterprise-grade financial data and accounting platform built specifically for the digital asset industry. The platform supports more than 280 blockchains and serves a range of prominent clients, including Phantom, Dune, and Wintermute. As more institutional treasury activity and stablecoin settlements move on-chain, demand for sophisticated accounting, reporting, and auditability tools has increased significantly.
Fireblocks believes this trend makes advanced blockchain accounting infrastructure essential for both crypto-native firms and traditional financial institutions. According to Fireblocks CEO Michael Shaulov, combining the two platforms will give customers a unified solution for managing digital asset operations alongside accurate financial reporting and compliance. He said the integration will allow clients to operate on a single secure, scalable, and compliant stack while maintaining clear accounting and audit trails.
Despite the acquisition, TRES will continue to operate as a standalone product. In a blog post announcing the deal, TRES CEO and co-founder Tal Zackon emphasized that existing customers and services will remain unchanged, with the platform continuing to support clients independently while benefiting from closer integration with Fireblocks’ infrastructure.
The TRES acquisition marks Fireblocks’ second major purchase in recent months as the company accelerates its expansion. In October, Fireblocks acquired enterprise wallet provider Dynamic for around $90 million. Around the same time, consumer-focused layer-1 blockchain XION announced it had added support for Fireblocks, further extending the company’s reach.
Fireblocks has also been expanding its payments and settlement offerings. The company recently launched the Fireblocks Network for Payments, a consortium of more than 40 companies—including Circle, Stripe’s Bridge, and Yellow Card—aimed at building a unified global stablecoin network. In addition, Fireblocks partnered with Singapore Gulf Bank, enabling the bank to provide a regulated and stable banking environment tailored to crypto companies.
With over 2,400 enterprise customers already using its custody, transfer, and settlement services, Fireblocks’ acquisition of TRES underscores its strategy to become a full-stack infrastructure provider for institutional digital asset management, spanning everything from secure storage and payments to accounting, compliance, and financial reporting.