Israel's Fireblocks buys crypto accounting platform Tres for $130m

Fireblocks has announced the acquisition of TRES Finance, a cryptocurrency accounting and financial controls firm, in a deal valued at around US$130 million.

Fireblocks provides security and infrastructure for institutional digital asset transfers.

TRES Finance specializes in transforming blockchain transaction data into structured financial records for over 230 clients.

The acquisition aims to help businesses and financial institutions manage compliance and reporting as regulations around digital assets increase in key markets like the EU and the US.

Fireblocks said integrating TRES’ technology will allow clients to align blockchain activity with existing accounting systems and meet audit requirements.

🔗 Source: Fireblocks

🧠 Food for thought

Implications, context, and why it matters.

Tres Finance has NetSuite integration; SAP/Oracle ERP unverified

A source lists an integration with NetSuite (Oracle NetSuite, a cloud Enterprise Resource Planning (ERP)) for Tres Finance as a crypto subledger (a detailed transaction register feeding the general ledger) with daily imports plus drill down from profit and loss (P&L) statements to a blockchain explorer (a web tool for viewing on-chain transactions) 1. No source confirms SAP or Oracle ERP packages.
Oracle Retail (Oracle’s retail industry software division) has Service Organization Control (SOC) 1 and SOC 2 Type 2 compliance across its Software as a Service (SaaS) products 2. The sources here do not list SOC audits for Fireblocks or Tres Finance.

Vendors can win revenue with crypto connectors before 2027 deadlines

The EU’s Directive on Administrative Cooperation 8 (DAC8) requires Reporting Crypto Asset Service Providers to report crypto transactions starting January 1, 2026, with exchanges by September 30, 2027 3.
US brokers must report basis for covered securities (digital assets acquired after 2025 in custodial accounts) starting January 1, 2026 on Form 1099-DA (a tax reporting form for digital assets) 4. Firms need cost basis tracking (the original value of an asset for tax purposes), Taxpayer Identification Number (TIN) collection or matching, and wash sale checks for tokenized securities (traditional securities issued on a blockchain) 4. Systems integrators (IT consulting firms) can sell DAC8 packages with self certification, General Data Protection Regulation (GDPR) compliant data capture, and automated tax filing 5. Penalties range from €20,000 to €500,000 5.