Digital asset infrastructure company Fireblocks has announced that it has acquired Dynamic, aiming to scale enterprise implementation of onchain applications.
With this transaction, Fireblocks is poised to develop a comprehensive custody-to-consumer stack, integrating its security infrastructure with Dynamic’s wallet, authentication, and user onboarding capabilities.
Why Dynamic?
As a developer-first wallet infrastructure, Dynamic supports more than 50 million onchain accounts for companies such as Kraken, zerohash, Magic Eden, Lighter, and Ondo Finance, among others. Dynamic offers the tools that developers need to embed digital asset experiences into any application, including user onboarding, authentication, embedded wallets, wallet connections, and funding integrations. Through this, the company focuses on allowing product teams to provide tailored and intuitive user experiences.
On the other hand, Fireblocks delivers digital asset and stablecoin infrastructure, with the company currently assisting over 2,400 financial institutions and allowing secure digital asset access to end-users worldwide. By acquiring Dynamic, the company can now enable businesses to expand their customer base through digital asset experiences safely and efficiently. Additionally, by merging Fireblocks’ institutional-grade infrastructure with Dynamic’s embedded wallet technology, the two companies plan to allow enterprises to solidify their position in the financial landscape, enabling them to roll out more offerings, scale their user base, and benefit from new revenue streams.
This deal will facilitate access for businesses and institutions to:
- Embedded wallets that mitigate the need for dedicated crypto engineers and remove blockchain difficulty and custody risk. Through this, businesses can offer digital asset functionality with a familiar and intuitive user experience;
- Global wallets that function across apps and chains, facilitating continuity of identity and balance for end users;
- Integrated fiat on/off ramps, stablecoin rails, and compliance to open programmable money flows and global payments in optimal infrastructure.
Further details on the deal
As part of this transaction, Dynamic’s team will join Fireblocks in achieving its commitment to enabling every app, website, and business to have a wallet and developing the foundation for the financial internet. The two companies will work on allowing businesses, developers, and institutions to further improve their operations without compromising on security or the user experience.
