Fireblocks is moving deeper into the financial plumbing of the crypto economy, as rising on-chain activity pushes institutions to demand tighter controls, clearer records, and stronger compliance across their digital asset operations.
The company has agreed to acquire crypto accounting and tax platform TRES Finance in a deal valued at about $130 million, positioning itself to offer a more complete operational and financial stack for large enterprises managing assets on blockchain networks.
Stablecoins and tokenised payments are no longer niche tools.
Fireblocks said monthly stablecoin settlements now run into the hundreds of billions of dollars, while more corporate treasuries are executing daily operations directly on-chain.
As transaction volumes grow, so does the need for accurate accounting, reconciliation, and audit trails that meet regulatory standards.
Fireblocks chief executive Michael Shaulov said,
“Both crypto-native firms and traditional institutions need clear, accurate accounting and auditability.”
By bringing TRES into its platform, Fireblocks plans to let clients manage digital asset movements and produce compliant financial records within a single system, reducing the need for fragmented tools and manual reconciliation.
TRES specialises in converting complex blockchain data into structured financial information that finance teams can use for reporting, audits, and tax compliance.
The platform automates reconciliation across more than 280 blockchains, exchanges, banks, and custodians, supporting over 230 organisations including Alchemy, Dune, Finoa, Wintermute, M2 and Bank Frick.
Its tools are designed to help firms integrate digital asset activity into existing enterprise systems while staying aligned with evolving regulations such as MiCA in the European Union and the GENIUS Act in the United States.
As part of the deal, TRES’ technology will be embedded into Fireblocks’ offering, giving customers access to audit-ready, tax-compliant records that cover end-to-end on-chain activity.
Shaulov said,
“We believe that we will be able to create a much broader treasury management solution that is kind of full spectrum.”
Fireblocks is best known for its secure infrastructure that supports custody, transfers, and settlement for crypto firms, banks, and payment providers.
The company says it works with around 2,400 enterprises and has processed more than $10 trillion in transaction volume.
It has also expanded into stablecoin infrastructure, helping companies issue and manage their own tokens.
The addition of TRES brings a financial intelligence layer to that stack, allowing operational data to flow directly into accounting and compliance workflows.
According to Shaulov, businesses now face higher expectations around disclosures, tax reporting, and internal controls as digital assets become part of everyday financial operations.
“With digital assets now part of day-to-day financial operations, both crypto-native firms and traditional institutions need clear, accurate accounting and auditability. Crypto companies must meet higher standards around tax reporting and disclosures, while banks and fintechs need reconciliation and controls that align with their existing ERP and ledger systems. By bringing TRES into the Fireblocks ecosystem, customers can now run both their operations and their back-office finance on one secure, compliant, and scalable stack.”
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.
TRES Finance founders: Tal Zackon and Eilon Lotem.
He pointed to Fireblocks’ global scale as a way to speed up growth, improve customer service, and strengthen enterprise security.
“The TRES team has built the financial record-keeping behind onchain activity, delivering clean, audit-ready data for institutions operating at scale. Joining Fireblocks allows us to extend this capability globally and help create the end-to-end financial stack institutions will rely on as the world moves onto blockchain rails.”
The entire TRES team, which includes around 58 employees across Israel, Europe and the United States, will join Fireblocks following the acquisition.
The acquisition marks Fireblocks’ second deal in roughly three months.
In October, it acquired enterprise wallet provider Dynamic in a transaction valued at about $90 million, expanding into consumer-facing infrastructure.
In November, the company also announced an integration with XION, a Layer-1 blockchain focused on mainstream adoption.
Fireblocks has also secured partnerships with regulated financial institutions, including Singapore Gulf Bank, which uses the platform to support its digital asset treasury and custody operations.
Together, these moves reflect a broader push to serve institutional demand for end-to-end digital asset infrastructure, combining security, transaction execution, and now financial reporting within a single ecosystem.
TRES has raised around $18.6 million to date, including a $7.6 million seed round in 2022 and an $11 million Series A in September 2023.
Fireblocks completed a $550 million Series E funding round in 2022, valuing the company at $8 billion, and has raised close to $1 billion in total funding.
Fireblocks confirmed the $130 million transaction value to Fortune, highlighting compliance as a growing priority as more institutions adopt blockchain-based finance at scale.
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