Fireblocks Acquires On-Chain Accounting Platform Tres
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According to The Block, cryptocurrency custody company Fireblocks has acquired cryptocurrency accounting and tax platform TRES, moving forward with building an on-chain operating system (OS) for institutions. Fireblocks CEO Michael Shauloff explained the acquisition, stating, "As on-chain business expands, auditable and tax-compliant financial records have become essential." He added, "With this acquisition, we've completed an integrated stack encompassing custody, transfers, governance, and accounting." The acquisition is reportedly worth approximately $130 million.
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