Fireblocks Purchases Blockchain Startup BlockFold
According to informed sources, the crypto custodial service provider Fireblocks has acquired the tokenization platform BlockFold for $10 million.
Bloomberg has reported on this development, but company representatives have not commented on the situation.
BlockFold, which was founded in 2021, specializes in working with traditional finance institutions on tokenization and smart contract development.
This acquisition will enhance Fireblocks’ tokenization capabilities, allowing them to offer services such as configuration, orchestration, distribution, and consulting.
Fireblocks and BlockFold have previously collaborated on projects such as National Australia Bank’s pilot program for cross-border stablecoin transfers.
This acquisition reflects the growing interest among major players on Wall Street in issuing and trading traditional financial assets in tokenized form to streamline processes and reduce costs.
