Overview
Dynamic Labs built tools that let application developers add crypto wallet authentication and embedded wallets to their products. Founders Itai Turbahn and Yoni Goldberg started the company in late 2021. The product grew from connecting existing wallets to providing tools for creating wallets inside an application.[1][2]
Fireblocks acquired Dynamic in October 2025, adding a consumer-facing wallet layer to its institutional digital-asset services. Dynamic continues as a Fireblocks offering.[3][4]
Founding Story
Turbahn and Goldberg met at MIT and worked together at several organizations before starting Dynamic. In a 2022 interview, they described wallet-based authentication as a way for developers to recognize users through a digital wallet rather than build every connection themselves. Dynamic opened a closed beta that year; named alpha customers included Llama, Popartcats, Handstamp, and Lunchclub.[1]
Andreessen Horowitz led a $7.5 million seed round announced in June 2022. In December 2023, a16z and Founders Fund led a $13.5 million Series A. By then, Dynamic had added embedded wallets and passkey support to its authentication tools.[1][2][5]
Timeline
- December 2021: The founders started Dynamic.[1]
- June 2022: Dynamic announced seed financing and opened its platform in closed beta.[1]
- December 2023: The company announced its Series A and passkey-based embedded wallets.[2]
- October 2025: Fireblocks announced it had acquired Dynamic.[3]
- June 2026: Fireblocks continued to offer embedded wallets through Dynamic.[4]
What They Built
Dynamic gave developers components for onboarding and authentication, connecting existing wallets, and embedding wallets in their own applications. An app could present familiar sign-in methods while using wallet infrastructure for digital assets. Its tools also included access lists and identity integrations.[2][3]
That approach moved wallet setup into the host product. Developers still had to decide how users would recover access, which networks to support, and what permissions to request. Dynamic supplied pieces of the workflow; an integration did not remove the need for the application to make those choices.
Market Position
Target Customers
Dynamic sold to application developers building crypto and financial experiences. Early alpha users included small web3 teams; Fireblocks later named customers serving trading, collectibles, and payments.[1][3]
Market Size
Dynamic served applications that needed to create wallets and authenticate users without building that infrastructure themselves.
Competition
Privy offers authentication and embedded wallets, while Turnkey supplies signing and wallet infrastructure. Fireblocks already had its own embedded wallet product and continues to support it alongside Dynamic. [8][9] The acquirer therefore has overlapping capabilities; its documentation directs developers to evaluate Dynamic's broader onboarding and customization features.[6]
Business Model
Dynamic supplied infrastructure to developers and businesses. Public sources reviewed here do not establish its revenue, gross margin, or historical pricing. The $21 million reported across seed and Series A rounds is financing, not customer revenue.[7]
Traction
In December 2023, Turbahn told Fortune that 1.6 million people had interacted with Dynamic's technology through customers' products. At acquisition, Fireblocks said Dynamic powered over 50 million onchain accounts and named Kraken, Magic Eden, Lighter, Ondo Finance, and zerohash. The company-reported measures use different units.[5][3]
Outcome and evolution
From login to a broader wallet workflow
Dynamic began with authentication and authorization, then expanded into wallet creation and related integrations. The shift placed more of the first user experience inside the developer's application. It also made the service relevant to businesses whose users might not arrive with an existing crypto wallet.[1][2]
Fireblocks acquired the business
Fireblocks said the acquisition joined Dynamic's wallet and onboarding tools with its institutional infrastructure. It said Dynamic's 30-person team would join. The Block reported that official deal terms were undisclosed; an unofficial price estimate is not a confirmed sale price.[3][7]
In 2026 Fireblocks still described Dynamic as its embedded-wallet offering. Its separate embedded-wallet documentation also remained available.[4][6]
Key Lessons
- Follow the integration path. Authentication led naturally to wallet creation and other developer controls, expanding the work Dynamic could do inside a customer application.
- Name the measurement. People interacting with customer products and wallet accounts are different measures; neither is a revenue figure.
- Map overlap after acquisition. Fireblocks retained an existing embedded-wallet service while offering Dynamic, so customers need to compare capabilities and migration paths.