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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 onchain applications.
The deal creates what Fireblocks calls the first complete custody-to-consumer stack, combining its security infrastructure with Dynamic wallet, authentication and user registration tools, according to an emailed announcement Thursday.
Financial details of the acquisition were not disclosed. Fireblocks declined to share them when contacted by CoinDesk.
Securing more than $4 trillion in digital asset transfers annually, Fireblocks specializes in safe custody, using MPC technology and a settlement network for institutions.
Its key institutional governance and infrastructure competitors include BitGo, Copper, Anchorage Digital and traditional financial (TradFi) firms such as BNY Mellon and Fidelity Digital Assets.
Fireblocks said the acquisition of Dynamic will help fintechs, payment providers and Web3 startups integrate digital assets into their products – from stablecoin accounts to DeFi trading – without complex infrastructure building.
“Together, we now offer something the industry has never had: a complete suite for on-chain finance, from escrow to consumer,” Michael Shaulov, CEO of Fireblocks, said in a statement.
Dynamic provides developer integrations and wallets based on access keys. Its co-founders Itai Turbahn and Yoni Goldberg said the merger gives developers a faster and safer path to market.
