Digital asset infrastructure company Fireblocks said it has acquired cryptocurrency accounting and financial reporting platform TRES Finance for an undisclosed sum to bridge the gap between blockchain-based operations and traditional financial systems.
TRES will continue to operate as a standalone product, with Fireblocks supporting its development and deeper integration into institutional workflows. According to “Fortune” magazine, citing people familiar with the matter, the acquisition is worth US$130 million.
As the cryptocurrency market matures, businesses are moving from gray areas to regulated areas. Therefore, compliance is now a necessity as adoption increases and global regulations such as MiCA come into effect, as well as the ability to connect on-chain data to traditional auditing standards.
TRES is designed to help crypto-native companies and traditional institutions generate structured, compliant financial records from blockchain activity, a task that often requires custom infrastructure and manual reconciliation.
Companies expanding into new markets or preparing for public offerings face pressure to provide audit records. TRES achieves this by transforming fragmented blockchain data into reports that are consistent with existing enterprise systems.
According to a Fireblocks press release, more than 230 companies, including Finoa, Alchemy and Wintermute, are already using TRES to manage tax compliance, reconciliation and financial controls.
The acquisition follows Fireblocks’ October acquisition of Dynamic, a developer platform used by companies including Kraken, Magic Eden and Ondo Finance.
