Fireblocks acquires on-chain accounting platform TRES

Cryptocurrency custody firm Fireblocks has acquired TRES, a crypto accounting and tax platform, as it moves to build an on-chain operating system for institutions, according to The Block. Fireblocks CEO Michael Shaulov said the expansion of on-chain business has made financial records capable of handling audits and taxes essential. He added that the acquisition completes an integrated stack for the company, covering custody, transfers, governance, and accounting. The deal is reportedly valued at approximately $130 million.