- Fireblocks is acquiring TRES Finance to add accounting and reconciliation to its platform.
- The deal values TRES Finance at about $130 million and is paid in a mix of cash and equity.
- The acquisition aims to serve enterprises running stablecoin and treasury flows on-chain at scale.
- Integrating accounting with custody and execution can simplify operations but shifts governance and oversight responsibilities.
- Stablecoin settlement volumes are large, creating demand for audit-ready financial records and reconciliation tools.
Fireblocks has agreed to buy TRES Finance to add on-chain accounting and reconciliation to its custody and transaction stack. The deal values TRES Finance at about $130 million and was structured with both cash and equity.
TRES Finance converts blockchain activity into standardized financial records that feed general ledgers and ERP systems. This lets firms track balances, flows, and exposures across wallets, chains, and custodians so they can produce audit-ready data.
Michael Shaulov, CEO of Fireblocks, said the deal will let customers run operations and get financial intelligence on a single platform, as he wrote in a posted statement. “Both crypto-native firms and traditional institutions need clear, accurate accounting and auditability,” he added, saying customers could “now run both their digital asset operations and get the financial intelligence they need on one secure, compliant, scalable stack.”
Executives warn integration carries execution and governance risks. Wesley Crooks, CEO of FP Block, said, “As firms scale digital asset operations, there is growing pressure to collapse the time and coordination required across custody, execution, reconciliation, and reporting.” He also noted integrated platforms “can materially simplify portfolio management,” while stressing that combining layers moves risks and requires explicit oversight.
The acquisition arrives as stablecoin and treasury activity grows. The company highlighted that stablecoin settlements exceed hundreds of billions monthly in a company tweet. An estimate by a16z put total stablecoin transaction volume at about $46 trillion over the past year and about $9 trillion on an adjusted basis.
A 2026 forecast from Moody’s said regulated stablecoins could play a larger role in settlements but warned wider adoption will increase scrutiny on reserves, governance, and operational standards. Wook Lee, CEO and founder of EDENA Capital Partners, said, “In the early stages of regulated digital asset adoption, vertical integration can help establish accountability and regulatory trust,” while noting that interoperability will become essential as markets mature.
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