Fireblocks has bought the Israeli startup TRES Finance for about $130 million.
TRES Finance provides a platform that helps companies manage, track, and report their digital asset financial data, making crypto accounting and compliance much easier for businesses.
TRES Finance was founded by Tal Zackon, who is the CEO and previously worked at F2 Capital, and Eilon Lotem, the CTO, who has been on extended reserve duty since October 7.
The company has 58 employees in total — 35 in Israel and the rest in Europe and the United States. After the acquisition, the entire TRES team will become part of Fireblocks.
TRES helps companies stay compliant in the digital asset space by turning complicated blockchain transactions into clear, organized, and audit-ready financial data. Its platform automatically manages reconciliation, reporting, and accounting across 280+ blockchains, exchanges, banks, and custodians.
So far, TRES Finance has raised about $18.6 million in funding. This includes a $7.6 million Seed round in 2022 and an $11 million Series A round in September 2023.
Fireblocks raised $550 million in its Series E round in 2022, which valued the company at $8 billion. In total, Fireblocks has raised around $1 billion in funding.
This is Fireblocks’ second acquisition in the last three months. In October, the company bought Dynamic, a crypto wallet development platform that supports more than 50 million accounts, for about $90 million.
That deal was Fireblocks’ first big move into consumer-focused digital asset services, helping it grow beyond its usual customers like banks, exchanges, and institutional payment companies.
“The TRES team has built the financial record-keeping behind onchain activity, delivering clean, audit-ready data for institutions operating at scale,” said Zackon. “Joining Fireblocks allows us to extend this capability globally and help create the end-to-end financial stack institutions will rely on as the world moves onto blockchain rails.”
Michael Shaulov, Co-founder and CEO of Fireblocks, said: “With digital assets now part of day-to-day financial operations, both crypto-native firms and traditional institutions need clear, accurate accounting and auditability. Crypto companies must meet higher standards around tax reporting and disclosures, while banks and fintechs need reconciliation and controls that align with their existing ERP and ledger systems. By bringing TRES into the Fireblocks ecosystem, customers can now run both their operations and their back-office finance on one secure, compliant, and scalable stack.”
