This comes three weeks after Fireblocks secured $550 million in a Series E funding round that raised the company’s valuation to $8 billion.
The new acquisition will help Fireblocks enhance its payment offerings by “enabling payment service providers (PSPs) and acquirers to accept payments and make payouts in digital currencies” as a result of rising consumer demand for digital asset retail transactions. The company will lead the integration between First’s payments platform and Fireblocks’ Direct Custody Platform.
Founded in 2017, First Digital provides API-based stablecoin payment solutions with “turnkey implementation of transaction and treasury management and compliance”. Merchants who work with supported PSPs via First Digitial’s platform can easily add an option to accept crypto payments, and the funds are settled in either local or cryptocurrencies.
“It is amazing to see what the entire Fireblocks team has built and accomplished in such a short period of time,” said Ran Goldi, CEO of First Digital. “We believe that payments should be a core functionality for all fintech apps, and via Fireblocks’ platform, we will make it available to the world at scale.”
As a result of the acquisition deal, Goldi was appointed Vice President of Payments at Fireblocks, and its engineering team will be added to Fireblock’s current engineering staff.
“We’re thrilled to welcome First Digital to the Fireblocks family as we accelerate our expansion plans to help every business become a crypto business,” said Michael Shaulov, Fireblocks’ CEO and co-founder. “We’re pushing ‘fast forward’ to give PSPs the suite of tools they need to begin accepting crypto payments.”