Digital asset infrastructure firm Fireblocks said it bought TRES Finance, a crypto accounting and financial reporting platform for an undisclosed amount, in a bid to close the gap between blockchain-based operations and traditional finance systems.
TRES will continue to operate as a standalone product, with Fireblocks supporting its growth and integrating it more deeply into institutional workflows. The acquisition was valued at $130 million, according to people familiar with the negotiations cited by Fortune.
As the cryptocurrency market matures, companies are moving from what has largely been a grey area into a regulated space. Compliance is therefore now a necessity as adoption rises and global regulations like MiCA start taking effect and the ability to bridge on-chain data with traditional audit standards is growing.
TRES is designed to help crypto-native companies and traditional institutions generate structured, compliant financial records from blockchain activity, a task that typically requires custom infrastructure and manual reconciliation.
Companies expanding into new markets or preparing for public offerings face pressure to produce audit-ready records. TRES enables this by turning fragmented blockchain data into reports that align with existing enterprise systems.
Over 230 companies, including firms like Finoa, Alchemy and Wintermute, already use TRES to manage tax compliance, reconciliation and financial control, according to a Fireblocks press release.
The acquisition follows Fireblocks’ October acquisition of Dynamic, a developer platform used by companies including Kraken, Magic Eden and Ondo Finance.