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Fireblocks Acquires Tokenization Firm BlockFold for $10M
The acquisition will expand Fireblocks' capabilities in tokenization including token customization, orchestration, distribution and advisory
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.
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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.
Read More: Banking Powerhouse HSBC Working With Crypto Custody Firm Fireblocks: Sources
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