Fireblocks, an Israeli blockchain company, has bought U.S.-based Dynamic — a platform that helps build crypto wallets and supports over 50 million accounts. The deal is worth around $90 million.
This is Fireblocks’ first big move into digital asset services for regular users, expanding beyond its usual focus on banks, crypto exchanges, and payment companies.
Dynamic was founded by two Israeli-born MIT graduates, Itai Turbahn and Yoni Goldberg. The company has 30 employees, all of whom will now join Fireblocks.
So far, Dynamic has raised $21 million in funding — including $13.5 million from a Series A round in December 2023 led by a16z crypto and Founders Fund, after an earlier $7.5 million Seed round.
Fireblocks works with over 2,000 clients, including 300 payment companies, and helps process around $85 billion in transactions every month.
Dynamic’s technology makes it easier to create wallets, verify users, and help them get started quickly.
When combined with Fireblocks’ Wallet-as-a-Service platform — which uses advanced cryptography and secure hardware — the two will enable developers and businesses to add crypto payments, stablecoins, and tokenization more smoothly.
Fireblocks has raised a total of $1 billion in funding. In 2022, it secured $550 million in a Series E round, which valued the company at $8 billion.
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