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 Dynamic’s wallet, authentication, and user onboarding tools, according to an emailed announcement on Thursday.
Financial details of the acquisition have not been disclosed. Fireblocks declined to share these 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 key competitors in institutional custody and infrastructure include BitGo, Copper, Anchorage Digital and traditional finance (TradFi) firms like BNY and Fidelity Digital Assets.
Fireblocks said its acquisition of Dynamic will will help fintechs, payment providers, and Web3 startups embed 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 stack for on-chain finance, from custody to consumer,” said Michael Shaulov, Fireblocks’ CEO, in a statement.
Dynamic provides developer integrations and passkey-based wallets. Its co-founders, Itai Turbahn and Yoni Goldberg, said the merger gives developers a faster, more secure route to market.
CORRECTION (Oct. 24, 08:20 UTC): Changes “BNY Mellon” to “BNY” in line with the bank’s 2024 rebrand.
