Cryptocurrency and digital asset custody technology company Fireblocks has acquired stablecoin and digital asset payment 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 using crypto beginning as soon as this spring.
The company added that it offers solutions to help PSPs and vendors meet the demand for crypto payments, which are generally expensive and complicated to integrate into existing platforms.
Fireblocks CEO and co-founder Michael Shaulov expressed excitement on behalf of the company for the acquisition:
"We're thrilled to welcome First to the Fireblocks family as we accelerate our expansion plans to help every business become a crypto business," Shaulov said.
"We’re pushing ‘fast forward’ to give PSPs the suite of tools they need to begin accepting crypto payments," he added.
First Digital provides stablecoin payment options for merchants. Those who use supported PSPs can seamlessly integrate crypto payment options into their current system.
CEO Ran Goldi was enthusiastic about First Digital's future with Fireblocks, calling the acquisition "an exciting opportunity for the First team based on a proven, successful partnership with Fireblocks."
"We believe that payments should be a core functionality for all fintech [financial technology] apps, and via Fireblocks’ platform, we will make it available to the world at scale," Goldi added.