Digital asset infrastructure company Fireblocks has acquired Dynamic, a development platform used by companies such as Kraken, Magic Eden and Ondo Finance, to accelerate enterprise adoption of on-chain applications.
The deal creates what Fireblocks calls the first full consumer escrow stack, combining its security infrastructure with Dynamic’s wallet, authentication and user onboarding tools, according to an emailed announcement Thursday.
Financial details of the acquisition have not been disclosed. Fireblocks declined to share them when contacted by CoinDesk.
Fireblocks, which secures over $4 trillion in digital asset transfers annually, specializes in secure custody, using MPC technology and a settlement network for institutions.
Its main competitors in the institutional infrastructure and custody space include BitGo, Copper, Anchorage Digital, and traditional finance (TradFi) firms such as BNY Mellon and Fidelity Digital Assets.
Fireblocks said its acquisition of Dynamic will help fintechs, payments providers and Web3 startups incorporate digital assets into their products, from stablecoin accounts to DeFi trading, without complex infrastructure builds.
“Together, we now offer something the industry has never had: the complete package for on-chain finance, from custody to consumer,” Michael Shaulov, CEO of Fireblocks, said in a statement.
Dynamic provides developer integrations and passkey-based wallets. Its co-founders, Itai Turbahn and Yoni Goldberg, said the merger offers developers a faster and more secure route to market.
