Cryptocurrency and digital asset custody technology company Fireblocks has acquired stablecoin and digital asset settlement platform First Digital, the company announced last Monday.
Fireblocks said the move will allow acquirers and payment service providers (PSPs) to accept and make payments in cryptocurrencies as early as this spring.
The company added that it offers solutions to help PSPs and vendors meet the demand for cryptocurrency payments, which are typically expensive and complex to integrate into existing platforms.
Michael Shaulov, CEO and co-founder of Fireblocks, expressed his excitement about the acquisition on behalf of the company.
“We are excited to welcome FIRST to the FireBlocks family as we accelerate our expansion plans to help any company become a cryptocurrency business,” Shaulov said.
“We are moving forward with 'fast forward' to provide PSPs with the full set of tools they need to start accepting cryptocurrency payments,” he added.
First Digital offers stablecoin payment options for merchants, and merchants using supported PSPs can seamlessly integrate cryptocurrency payment options into their current systems.
CEO Ran Goldi expressed enthusiasm about First Digital's future with Fireblocks, calling the acquisition “an exciting opportunity for the First team building on our proven and successful partnership with Fireblocks.”
“We believe payments should be a core function of every fintech. [financial technology] Through the app and the Fireblocks platform, we will be able to deliver this at scale around the world,” Gold added.
