Fireblocks Acquires Dynamic to Enhance On-Chain Solutions for Fintechs
Fireblocks Acquires Dynamic to Enhance On-Chain Solutions for Fintechs
In a strategic move to bolster on-chain financial services, Fireblocks has announced the acquisition of Dynamic, a leading developer platform. This acquisition marks a significant step for Fireblocks, an enterprise platform that secures over $4 trillion in digital asset transfers annually. The integration of Dynamic's capabilities will enable businesses, fintechs, and startups to onboard users onto blockchain technology swiftly and securely, while offering a seamless consumer experience across various activities such as DeFi trading and stablecoin accounts.
Comprehensive Developer Platform
Dynamic has been a pivotal player in the blockchain space, providing essential tools for embedding digital assets into applications. Their platform supports over 50 million on-chain accounts for notable industry leaders like Kraken and zerohash, as well as web3 innovators such as Magic Eden and Lighter. By leveraging Dynamic’s expertise, Fireblocks is set to enhance its service offerings, creating a comprehensive custody-to-consumer stack that combines institutional-grade security with user-friendly functionality.
Michael Shaulov, CEO of Fireblocks, expressed his excitement about the acquisition, stating, "With this merger, we are combining our trusted infrastructure with Dynamic's sophisticated wallet technology, enabling users to experience on-chain finance in a more accessible manner than ever before."
The Importance of Integration
Historically, there has been a divide between institutional infrastructure and consumer-facing applications. The alliance between Fireblocks and Dynamic aims to bridge this gap, uniting high-level security with smooth functionality in one platform. Developers will gain access to a suite of capabilities, including embedded wallets, passkey authentication, gasless transactions, and yield integration options that simplify the complexity typically associated with blockchain services.
Itai Turbahn, co-founder and CEO of Dynamic, stated, "Our goal has always been to simplify blockchain interactions for developers. By uniting with Fireblocks, we can now harness their enterprise foundations to provide a robust and compliant stack, empowering teams worldwide in just a few days."
Transforming User Experiences
Dynamic has been instrumental in enhancing user experiences for prominent companies:
- - Kraken’s Inky leverages Dynamic to provide a playful trading experience with minimum crypto knowledge required.
- - zerohash enables businesses to handle crypto or stablecoin payments seamlessly through Dynamic's interface.
- - Magic Eden utilizes Dynamic's tools to let users explore and trade digital collectibles across various chains effortlessly.
- - Lighter.xyz offers innovative trading solutions without requiring web3 expertise.
- - Ondo Finance allows users to connect and manage existing wallets across its diverse product range.
The collaborative efforts of both companies aim not just to improve current methodologies but to reshape the landscape of digital asset management, offering businesses endless possibilities.
Strengthening the Team
As part of this acquisition, the 30-strong team from Dynamic will join Fireblocks. This infusion of talent will bring specialized expertise in crucial areas such as consumer product design, developer experience, web3 authentication, and wallet technology to Fireblocks. Moreover, while integrating the two platforms, the teams will ensure existing clients enjoy continued support as they transition to this enhanced infrastructure.
About Fireblocks
Fireblocks has established itself as a leader in secure digital asset infrastructure, catering to a broad range of organizations. With a focus on scalability and security, Fireblocks streamlines processes involving stablecoin payments, trading, and custody, positioning itself as a trusted partner for thousands of organizations.
About Dynamic
Dynamic stands at the forefront of developing embedded wallet infrastructure for enterprises, allowing businesses to seamlessly access digital assets. By combining institutional custody with user-friendly customer-facing solutions, Dynamic has become a top choice for leading companies across the sector.
Visit fireblocks.com/dynamic and dynamic.xyz to discover more about the innovative solutions offered by Fireblocks and Dynamic.
Topics Business Technology）
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