Fireblocks, a digital asset infrastructure company, announced on Thursday that it acquired Dynamic, an enterprise-focused wallet provider.
The integration of Dynamic’s tech stack into Fireblocks adds to the company’s suite of institutional-grade services, which includes treasury management, custody options, and wallet services.
Dynamic provides the wallet infrastructure for 50 million on-chain accounts, including accounts for crypto exchange Kraken and Web3 Companies like Magic Eden and Ondo Finance. Michael Shaulov, CEO of Fireblocks, stated:
“Together, we now offer something the industry has never had: the complete stack for on-chain finance, from custody to consumer, all on one secure, scalable platform."
The Fireblocks team said the acquisition comes on the heels of rapid stablecoin adoption and favorable crypto regulations, which are driving institutional adoption of digital assets.
Institutions on Board Following Regulatory Pivot in the United States
Institutional adoption of crypto ramped up following the election of Donald Trump in the United States in 2024 and the regulatory pivot spearheaded by the Trump administration.
Under the previous administration and former leadership at the Securities and Exchange Commission (SEC), institutional investors were hesitant to adopt crypto due to fears of regulatory backlash.
Since Trump took office at the beginning of 2025, lawmakers in the US have passed the GENIUS stablecoin bill, and regulators at the SEC have signaled that a comprehensive crypto market structure bill is coming.
SEC and Commodity Futures Trading Commission (CFTC) officials issued a joint statement in September, teasing 24/7 capital markets and additional regulations for crypto derivatives to modernize the legacy financial system.
However, the next wave of institutional adoption faces hurdles, as blockchain technology is still nascent and in need of fine-tuning, according to Annabelle Huang, co-founder of blockchain infrastructure company Altius Labs.
Public blockchains still feature a speed bottleneck that limits institutional and mass adoption because the blockchain infrastructure cannot currently handle all the world’s financial transactions, Huang told Cointelegraph in an interview.