Fireblocks announced that its Fireblocks Trust Company, a New York State–chartered qualified custodian regulated by the New York Department of Financial Services, has expanded its institutional custody ecosystem to include partners such as Castle Island, FalconX, Bakkt and Galaxy.
Fireblocks Expands Qualified Custody Ecosystem With Major Institutional Partners
WRITTEN BY
SHARE
Launched following regulatory approval in 2024, the Trust offers segregated, bank‑grade custody built on Fireblocks’ existing infrastructure, and is being positioned as a solution for institutions that need both self‑custody options and regulated qualified custody to meet fiduciary or compliance requirements. The company framed the timing of the expansion 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.
