Fireblocks Acquires TRES for $130 Million to Enhance Compliance Capabilities
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Acquisition Strategy: Fireblocks has acquired crypto accounting platform TRES for $130 million, aiming to leverage its tax compliance infrastructure to support institutional clients amidst stablecoin settlements exceeding hundreds of billions monthly, addressing a critical compliance need.
- Enhanced Compliance Capabilities: This acquisition enables Fireblocks clients to access “audit-ready, tax-compliant financial records,” which not only boosts client compliance but also enhances their confidence in utilizing blockchain technology effectively.
- Market Expansion: With partnerships across 2,400 enterprises and supporting $10 trillion in transactions, Fireblocks further solidifies its market position in crypto asset management by integrating TRES, catering to the growing compliance demands in the sector.
- Product Independence: TRES will continue to operate as a standalone product, while Fireblocks plans to leverage its size and technological expertise to accelerate TRES's growth, improve customer service, and enhance security, thereby strengthening overall market competitiveness.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
