Fireblocks Acquires Tokenization Firm BlockFold for $10M
The acquisition will expand Fireblocks' capabilities in tokenization including token customization, orchestration, distribution and advisory
Updated Oct 27, 2023 at 2:44 p.m. UTC
Crypto custody tech company Fireblocks has acquired tokenization firm BlockFold to service the financial industry's largest institutions.
The acquisition will expand Fireblocks' capabilities in tokenization - allowing traditional assets to be traded on the blockchain - including token customization, orchestration, distribution and advisory, the firm announced via email on Friday.
The market for tokenized assets could spike to $16 trillion by 2030, according to a report by consultancy firm Boston Consulting Group.
Financial terms of the deal weren't disclosed, though a person familiar with the matter told CoinDesk that the acquisition figure is $10 million.