Fireblocks acquires Tres Finance: Cryptocurrency accounting management moves towards compliance

Source: TokenPost Original Title: Fireblocks Acquires Tres to Enhance Infrastructure through Cryptocurrency Accounting Integration Original Link: https://www.tokenpost.kr/news/blockchain/322394 Digital asset infrastructure and custody company Fireblocks(Fireblocks) has acquired Tres Finance(Tres Finance), a provider of cryptocurrency accounting and financial management platforms. Through this acquisition, Fireblocks aims to integrate financial control features into virtual asset trading and custody infrastructure, striving to establish a more sophisticated digital asset management system.

The company explained that the cryptocurrency industry is rapidly evolving, creating new business opportunities—from global payments via stablecoins to expanding financial ecosystems based on tokenized assets. However, it also pointed out that there is a surge in demand for financial controls centered around tax reporting and accounting standards.

Recently, regulatory environments for digital assets have become clearer, especially in the US and the European Union. In October, the US passed the ‘Guiding and Establishing National Innovation for U.S. Stablecoins Act(’ to establish a legal framework for banks and companies to operate digital assets legitimately. Similarly, the EU introduced the ‘Markets in Crypto-Assets Regulation (MiCA))’ in 2022, aiming to regulate the market centered on stablecoins, with regulatory infrastructure being rapidly developed.

Fintech companies like PayPal and Square have started offering their own stablecoin payment services, and some banks are pushing for tokenization of deposits. Additionally, neobanks are entering the market by launching crypto-based corporate treasury and wallet services.

Fireblocks pointed out that the current cryptocurrency management systems are not well integrated with traditional financial accounting systems, making it difficult to achieve comprehensive accounting processing and transparent reporting. Tres Finance is a company equipped with the technology to fill this gap. With this acquisition, Fireblocks will incorporate an accounting-based integrated management solution into its platform.

As the digital asset market begins to enter the mainstream, related infrastructure is also being upgraded to more robust and sophisticated systems. Fireblocks’ move is seen as a significant milestone, moving beyond simple wallet services to establishing industry standards compliant with regulations.