Blockchain infrastructure provider Fireblocks has announced the acquisition of US-headquareted Dynamic, a digital wallet development platform that is reportedly backed by Andreessen Horowitz (a16z) as well as Founders Fund. The acquisition is said to valued at around $90 million. The update marks Fireblocks’ initial move into consumer-focused digital asset tech.
Established by Itai Turbahn and Yoni Goldberg, Dynamic enables more than 50 million accounts and has so far secured $21 million in capital, including a $13.5 million Series A by a16z back in 2023. Its 30-person professional team will join Fireblocks, enhancing its wallet integration and development tools.
Fireblocks, founded by Michael Shaulov, Idan Ofrat, and Pavel Berengoltz, serves various clients, such as payment companies processing $85 billion monthly. Backed by $1 billion in capital, the firm had last been valued at $8 billion after its $550 million Series E in 2022.
As covered recently, Euronet, a firm focused on payments processing and cross-border transactions, announced it has chosen to leverage Fireblocks, an enterprise platform for digital asset infrastructure (non-custodial), settlement, trading operations and stablecoin payments. Fireblocks enables Euronet to integrate stablecoin tech into its payments infrastructure.
This integration streamlines Euronet’s internal treasury operations and strengthens its “support for cross-border payment use cases.”
By bringing together Fireblocks’ stablecoin infrastructure with Dandelion’s network, comprising approx. 631,000 locations, 4.1 billion bank accounts, 3.2 billion digital wallet accounts and 4.0 billion Visa debit cards via Visa Direct payments across 200 countries and territories, the companies “are laying the groundwork for the evolution in cross-border payments, where interoperability between traditional and blockchain systems work to make money movement more efficient.”
As reported earlier this month, Fireblocks said that Moomoo will integrate its Wallets-as-a-Service (WaaS) infrastructure to expand and secure the trading platform’s digital-asset offerings, in a move aimed at boosting scalability, reliability and security across Moomoo’s operations.
As covered last month, Fireblocks launched the Fireblocks Network for Payments to power stablecoin payments across more than 100 countries. This enables fintechs, PSPs, and other institutions to build products on Fireblocks’ infrastructure – delivering payouts, remittance, merchant settlement, cross-border treasury and orchestrating global payment flows with complete control.