Fireblocks acquires crypto payments processor First DAG in cash-and-stock deal (via Yogita_Khatri5)
First DAG is building a crypto payments platform to help merchants accept stablecoins. The platform, to be launched this spring, will now help Fireblocks enable stablecoin payouts and B2B payments with stablecoins for its institutional clients, said Shaulov.last year to launch the Diem stablecoin payment gateway for financial institutions, allowing merchants to easily connect with the Diem blockchain network.
As part of the deal, First DAG's platform will be merged and fully integrated into Fireblocks, said Shaulov. He added that First DAG will be a new business unit of Fireblocks focused on payments. All 16 employees of First DAG will also join Fireblocks, taking the latter's total headcount to 343, said Shaulov.
Consulting firms KPMG and EY and Israel's largest law firm Meitar served as banking and legal advisors for the deal, said Shaulov.$550 million in a Series E funding round at an $8 billion valuation. Shaulov said the company plans to acquire more crypto startups but declined to share in which areas of the sector.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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