Digital asset infrastructure firm Fireblocks has acquired Dynamic, a developer 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 Dynamics 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 these when contacted by CoinDesk.
Safeguarding over $4 trillion in digital assets annually, Fireblocks specializes in secure escrow using MPC technology and a settlement network for institutions.
Its key competitors in institutional custody and infrastructure include BitGo, Copper, Anchorage Digital and traditional financial firms (TradFi) such as BNY Mellon and Fidelity Digital Assets.
Fireblocks said its 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.
“Together, we now offer something the industry has never had: the complete stack for on-chain financing, from repository to consumer,” Michael Shaulov, Fireblocks’ CEO, said in a statement.
Dynamic provides developer integrations and access key-based wallets. Its co-founders, Itai Turbahn and Yoni Goldberg, said the merger gives developers a faster and safer path to market.
