Fireblocks Trust Company, a licensed trust organization in New York, has just partnered with Galaxy, Bakkt, FalconX, and Castle Island to improve how financial institutions custody digital assets. This move helps Fireblocks address the biggest bottleneck in the institutional market: safe custody and regulatory compliance.
Thanks to its operations under the supervision of NYDFS, Fireblocks can provide cold storage services for U.S. customers, supporting the cryptocurrency ETF market, digital assets, and digital treasury. CEO Adam Levine stated that this is the “next phase of institutional adoption,” as managed custody becomes the catalyst for attracting capital.
This move comes as major banks such as Deutsche Bank, Citigroup, and U.S. Bancorp also join the custody race, indicating that Fireblocks is becoming a bridge between cryptocurrency innovation and traditional financial standards.
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