(Rejected) Digital Asset Custody Provider Fireblocks Acquires Crypto Payments Platform First Digital for $100M

Digital asset custody, transfer, and settlement platform Fireblocks will acquire Israeli firm First Digital, a stablecoin payment platform, for $100 million.

The acquisition aims to enhance the functionality of the current Fireblocks payment platform.

According to a Calcalist report, Fireblocks will integrate First [Digital] to expand the platform’s payment capabilities by enabling payment service providers (PSPs) and acquirers to accept cryptocurrency payments and pay in digital currencies The acquisition, which is said to be Fireblocks’ first acquisition of a fintech startup, comes less than three weeks into the company’s Series E funding round.

In this Series E round, Fireblocks raised $550 million, bringing its market cap to $8 billion.

Although this is the first case of Fireblocks acquisition, Fireblocks CEO Michael Shaulov said that the company's goal in the future is not to make more acquisitions, but to hope to integrate such as First [Digital] in many areas. Capable team.

He also added that:

“They built one of the strongest teams when it comes to crypto, payments, and product and they will complement our capabilities. First's the significant advantage is that like Fireblocks, they built a technological platform that easily connects to the different payment providers and allows them to easily receive payments in cryptocurrencies.”