So Fireblocks drops a press release about their Fireblocks Trust Company-New York state-chartered, regulated by the NY DFS-and would you believe it, they’ve expanded the custody ecosystem with partners like Castle Island, FalconX, Bakkt and Galaxy. More names, less sense, am I right? 😂
Launched after regulatory approval in 2024, the Trust offers segregated, bank‑grade custody built on Fireblocks’ own infrastructure-a vault with a user interface. It’s pitched as the perfect mix for institutions that want both self‑custody options and regulated qualified custody to keep the fiduciary folks happy. The company framed the timing around the SEC’s Sept. 30 no‑action letter, saying the guidance clarifies the path for state trust companies to serve as qualified custodians and could accelerate institutional adoption of digital assets. Fireblocks highlighted use cases that include token vesting and protocol launches, institutional lending with tri‑party collateral arrangements, ETF and DAT custody, and policy‑controlled staking, while partners and customers emphasized the role of qualified custody in enabling compliant market activity.
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2025-10-09 13:27