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Fireblocks Acquires Tokenization Firm BlockFold for $10M

Jamie Crawley

Fireblocks sign at Miami airport during Bitcoin Miami conference 2022 (Danny Nelson/CoinDesk)

Fireblocks sign at Miami airport during Bitcoin Miami conference 2022 (Danny Nelson/CoinDesk)

 

 

 

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.

 

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.

 
Financial terms of the deal weren't disclosed, though a person familiar with the matter told CoinDesk that the acquisition figure is $10 million.
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