Acquisitions and mergers in the crypto market, if anything, indicates the expansion and prosperity of the crypto market and optimism about its future prospects.
Fireblocks, one of the fastest growing cryptocurrency companies, announced its acquisition of First Digital yesterday.
This acquisition will facilitate the expansion of the company’s electronic payment plans.
“Fireblocks” indicated that the integration with “First Digital” will support “B2C”, “B2B”, cross-border and other forms of payment through cryptocurrencies USDC, Celo, stablecoins, and various other digital currencies.
The crypto company said there is a growing demand from retail and institutional users for crypto-related payments.
Earlier this year, Fireblocks raised a whopping $550 million in its Series E funding round.
With an estimated value of around $8 billion, Fireblocks is one of the most valuable companies in the cryptocurrency ecosystem.
Mr. Michael Shaulof, CEO and Co-Founder of Fireblocks commented on the acquisition by saying:
We are pleased to welcome First Digital into the Fireblocks family as we accelerate our expansion plans to help every business become a crypto business.
We are pushing forward to give Payment Service Providers (PSPs) the toolset they need to start accepting cryptocurrency payments.
Pay with cryptocurrency:
According to research by MasterCard, nearly 40% of consumers in Africa, the Middle East, Asia Pacific and the US region plan to use cryptocurrency for purchases in the next year.
In addition, a large percentage of the respondents are exploring different technology-based solutions for settling financial payments using cryptocurrencies.
Fireblocks and First Digital believe the acquisition will increase global adoption of digital assets, with First Digital CEO Ran Goldie commenting on the acquisition:
It’s amazing to see what the entire Fireblocks team has built and accomplished in such a short period of time.
This is an exciting opportunity for the First Digital team to collaborate and achieve a successful partnership with Fireblocks.
We believe that payments should be a core function of all FinTech applications, and through the Fireblocks platform, we will make it widely available to the world.
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