Fireblocks has agreed to buy crypto accounting and tax platform TRES for $130 million. The deal is focused on helping large institutions manage compliance and audits more easily while using digital assets.
The acquisition shows how fast demand is growing for proper accounting systems in crypto. Stablecoins are being used more than ever. Many companies are now running parts of their treasury directly on blockchains.
Fireblocks confirmed the deal value to Fortune on Wednesday. The company said compliance tools are becoming essential as more businesses move financial activity on-chain.
According to Fireblocks, stablecoin settlements now reach hundreds of billions of dollars every month. At the same time, more firms are handling payments, reserves, and settlements fully on blockchain networks.
This rise in on-chain activity has created pressure on companies to keep clean and accurate records. Regulations and tax rules are becoming stricter. Firms now need accounting systems that are audit-ready at all times.
Fireblocks CEO Michael Shaulov said both crypto-native companies and traditional institutions need clarity. They need reliable accounting and full audit visibility.
By adding TRES, Fireblocks plans to offer everything in one place. Clients will be able to manage digital assets and also generate compliant financial records from the same platform.
TRES will provide detailed, tax-compliant records of on-chain activity. This will help institutions scale their blockchain operations without falling behind on reporting or compliance.
Shaulov said the deal fits into Fireblocks’ bigger plan. The company wants to build a complete treasury management solution that covers every part of digital finance.
TRES will continue operating as a separate platform. Its CEO and co-founder Tal Zackon said existing customers will not see immediate changes.
Zackon said Fireblocks’ size and resources will help TRES grow faster. He added that the partnership will improve customer service, security, and enterprise-level features.
Fireblocks currently provides custody, transfer, and settlement services for crypto. The company works with around 2,400 enterprises worldwide.
It claims to have processed more than $10 trillion in transactions. Fireblocks has also moved deeper into stablecoin infrastructure, helping clients issue and manage their own tokens.
The TRES deal is part of a larger expansion strategy. In October, Fireblocks acquired technology from enterprise wallet provider Dynamic to strengthen wallet and access tools.
More recently, Fireblocks integrated with XION, a Layer 1 blockchain built for mainstream use.
The company has also partnered with Singapore Gulf Bank, a regulated digital wholesale bank overseen by the Central Bank of Bahrain. The partnership supports digital asset custody and treasury services.
All these moves point to one goal. Fireblocks wants to become a full end-to-end infrastructure provider for institutional crypto users.
As regulations tighten and on-chain activity keeps growing, Fireblocks is betting that demand for combined custody, settlement, accounting, and compliance tools will only increase.
