Fireblocks is acquiring TRES Finance for $130 million in cash and equity, expanding beyond asset custody to provide broader treasury and holdings analytics.

TRES Finance counts notable clients like CoinFund, Nansen, and the Phantom wallet team, and raised $11 million in late 2023; the deal price carries a premium to its prior valuation.

Founded in 2022, TRES was built to deliver onchain accounting and reporting, and this acquisition follows Fireblocks’ strategy to consolidate its ecosystem for a fuller crypto infrastructure suite.

The move mirrors growing regulatory maturity in crypto, with standards such as MiCA boosting demand for audit-ready, compliant blockchain records.

The goal is to generate audit-ready, tax-compliant financial records for onchain activity to support growth, regulatory compliance, and smoother integration with traditional accounting systems.

The deal is part of a broader surge in crypto M&A activity in 2025, driven by optimism around regulation and market structure.

The acquisition strengthens Fireblocks’ position in helping institutions store, transfer, and manage onchain assets with enhanced compliance, reconciliation, and tax reporting.

TRES’ software already serves more than 230 firms and is used by major players, underscoring strong demand for onchain financial governance tools.

TRES enables crypto-native firms and traditional institutions to generate structured, compliant financial reports from blockchain activity, reducing reliance on bespoke infrastructure.

Fireblocks CEO Michael Shaulov says the deal aims to create a fuller treasury management solution as crypto firms scale and face financial reporting and regulatory expectations, including MiCA and other standards.

Regulatory-ready financial records are emphasized as essential for global standards and potential public-market entry, aligning with broader regulatory timelines.

TRES will operate as a standalone product while being integrated more deeply into Fireblocks’ institutional workflows.