Blockchain company Fireblocks, which is backed by Sequoia Capital, has acquired Melbourne-based decentralized finance (defi) startup BlockFold for a reported $10 million.

This acquisition will allow Fireblocks to expand its services beyond custody services.

Neither Fireblocks nor BlockFold has made any public statements regarding the deal.

BlockFold, founded in 2022, provides smart contract development, auditing, advisory, testing, and security services for defi and non-fungible token projects. Its clients include OpenSea, Hedera Hashgraph, OpenZeppelin, among others. 

This acquisition comes shortly after Fireblocks launched its non-custodial wallet-as-a-service for businesses across various sectors. 

The wallet is designed to work across multiple platforms, including iOS, Android, and web browsers. 

In June 2023, Fireblocks partnered with cloud service giants AWS, Google Cloud, and Alibaba Cloud to expand accessibility and serve a broader range of businesses.