Fireblocks acquires Dynamic, a16z-backed wallet platform, for $90 million
The Israeli digital asset firm, valued at $8 billion, broadens its platform amid industry-wide stablecoin momentum.
Fireblocks, the Israeli blockchain infrastructure company, has acquired U.S.-based Dynamic, a crypto wallet development platform that supports over 50 million accounts, in a deal valued at roughly $90 million. The acquisition marks Fireblocks’ first major step into consumer-facing digital asset infrastructure, expanding beyond its traditional base of banks, exchanges, and institutional payment providers.
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Founded by Israeli-born MIT graduates Itai Turbahn and Yoni Goldberg, Dynamic employs 30 people who will join Fireblocks. The company raised $21 million to date, including a $13.5 million Series A in December 2023 led by a16z crypto and Founders Fund, following an earlier $7.5 million Seed round.
Fireblocks serves more than 2,000 clients, including 300 payment companies conducting $85 billion in monthly transaction volume.
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Dynamic’s technology simplifies wallet creation, authentication, and user onboarding. By combining that with Fireblocks’ Wallet-as-a-Service (WaaS) platform, built on Multi-Party Computation (MPC) cryptography and secure hardware, the merged offering will allow developers and enterprises to integrate crypto payments, stablecoins, and tokenization more seamlessly.
Fireblocks has raised $1 billion in total funding, including a $550 million Series E in 2022, which valued the company at $8 billion.
