Fireblocks expands institutional reach with TRES Finance acquisition

Fireblocks has agreed to acquire crypto accounting and compliance specialist TRES Finance in a transaction valued at about $130 million, a move that brings together one of the industry’s largest digital-asset infrastructure providers with a fast-growing financial intelligence platform serving institutional investors. The deal, confirmed by people familiar with the matter, folds TRES Finance’s reporting and compliance tools into Fireblocks’ custody, settlement and tokenisation stack as competition intensifies for banks, asset managers and regulated intermediaries entering digital assets.

Founded in 2018, Fireblocks has built the plumbing behind a significant share of institutional crypto flows, with clients ranging from exchanges and stablecoin issuers to global banks and fintechs. The company says its platform has supported transactions totalling trillions of dollars across more than 200 blockchains, positioning it as a critical intermediary at a time when institutions are demanding bank-grade controls, policy enforcement and auditability.

TRES Finance, established in 2021, focuses on reconciling on-chain activity with traditional accounting systems, providing real-time profit and loss, balance-sheet views and regulatory reporting for digital-asset portfolios. Its tools are used by hedge funds, treasuries, exchanges and decentralised finance operators to manage complex flows across wallets, protocols and venues while meeting accounting standards and compliance obligations.

The acquisition addresses a persistent gap in institutional crypto operations: the disconnect between execution and back-office reporting. As trading, custody and tokenisation have matured, finance teams have struggled to keep pace with the volume and complexity of data generated on-chain. By integrating TRES Finance’s intelligence layer, Fireblocks aims to offer clients a single environment that spans transaction approval, secure transfer, policy controls and automated financial reporting.

Industry executives say the combination reflects a broader consolidation trend as infrastructure providers race to deliver end-to-end solutions. Institutional clients increasingly want fewer vendors, clearer accountability and systems that can withstand regulatory scrutiny. Fireblocks’ existing strengths in secure multiparty computation and policy-based workflows are expected to complement TRES Finance’s ability to translate blockchain activity into formats familiar to chief financial officers and auditors.

Fireblocks’ leadership has framed the purchase as a strategic step to deepen relationships with regulated institutions. Banks and asset managers expanding tokenised funds, stablecoins and digital-asset custody face mounting expectations around transparency, risk management and reporting. Embedding accounting and compliance tools at the infrastructure layer could shorten onboarding times and reduce operational risk, while also increasing switching costs for clients.

For TRES Finance, the deal offers scale and distribution at a moment when demand for institutional-grade reporting is rising. The firm has built connectors across multiple blockchains and protocols, as well as integrations with enterprise resource planning systems. Under Fireblocks’ umbrella, its products are expected to reach a broader client base and benefit from tighter integration with transaction data, reducing reconciliation gaps that can arise when systems are loosely coupled.

The transaction also underscores the competitive pressure among crypto infrastructure providers following heightened regulatory attention in major markets. Authorities have sharpened expectations around record-keeping, segregation of assets and audit trails. Firms that can demonstrate robust controls across the transaction lifecycle are better placed to win mandates from conservative institutions that have so far moved cautiously.

Analysts note that the valuation signals confidence in the long-term institutionalisation of digital assets despite market volatility. Strategic buyers are prioritising capabilities that support compliance and financial controls rather than pure trading features. This shift reflects lessons learned from past market dislocations, when inadequate reporting and governance amplified losses and eroded trust.

Fireblocks’ move comes as tokenisation projects gain momentum across bonds, funds and real-world assets, increasing the need for accurate, real-time accounting. Tokenised instruments generate continuous on-chain events such as interest accruals, corporate actions and redemptions, all of which must be captured and reflected in financial statements. Integrating these functions into core infrastructure could streamline operations for issuers and investors alike.

People close to the companies say the integration will focus first on unified dashboards that give finance teams instant visibility into exposures and performance, followed by automated compliance reporting tailored to different jurisdictions. Retention of TRES Finance’s engineering and product teams is expected to be a priority to preserve domain expertise as the platforms are combined.