Crypto firm Fireblocks announced on Tuesday that it has agreed to buy payments technology platform, Blockex, for $100 million. Crypto firm Fireblocks announced on Tuesday that it has agreed to purchase payments technology platform, Blockex, for $100 million.

Fireblocks, a provider of infrastructure for cryptocurrencies, has acquired First Digital, a platform for stablecoin and digital asset payments.
Two sources close to the deal said the purchase price was $100 million.
Fireblocks raised $550 million from institutional investors last month, pushing its valuation to $8 billion.
The First Digital acquisition will allow Fireblocks to expand its existing payment capabilities, which will allow payment service providers to accept crypto payments.
PSPs and large merchants are eager to meet customer demand for crypto and digital currency payments, but offering these services often entails challenges such as high wallet integration costs and the need for manual anti-money laundering screening.
Fireblocks said that the addition of First Digital will enhance the solutions it already offers to address those issues.
"What First Digital brings is an awesome product and extensive leadership and know-how in the payments domain," Fireblocks Chief Executive Michael Shaulov told Reuters in a telephone interview. "Specifically, the product they're bringing to the market is very applicable to the mass market."
First Digital will also launch a business unit that is focused on payments and enabling our customers to accept and remit using several kinds of cryptocurrencies, Shaulov said.
First Digital's payment capabilities include cryptocurrencies pegged to a fiat currency like the U.S. dollar.
First Digital Chief Executive Ran Goldi said the deal was a natural fit, given the companies had been partners for two years. He added that over the past six months First Digital "saw a lot of interest from companies that three years ago said we were ahead of our time."
Through First Digital, merchants who work with supported payments service providers can simply add an option to accept crypto payments. The funds are settled in either local currency or crypto, depending on the merchant's preference.
All First Digital employees will be hired by Fireblocks as part of the deal.

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