Fireblocks Trust Company, the New York-regulated arm of the Fireblocks platform, has announced new partnerships with Galaxy, Bakkt, FalconX, and Castle Island to scale its institutional-grade crypto custody offering.
The company, chartered by the New York Department of Financial Services (NYDFS), the collaboration aims to meet rising institutional demand for secure and compliant digital asset infrastructure. This includes custody support for exchange-traded funds (ETFs), digital asset treasuries (DATs), and token issuances.
Regulatory compliance and security are non-negotiable, founding partner at Castle Island Ventures. Fireblocks Trust Company delivers on both fronts with its qualified custodian status and strong operational safeguards.
The company’s platform is powered by Fireblocks’ cold storage technology, offering direct connectivity to a network of more than 2,400 financial institutions globally.
Driving institutional confidence in regulated crypto custody
The move comes as financial institutions increasingly seek regulated custody frameworks amid expanding interest in digital assets. The introduction of compliant infrastructure has become “the catalyst” for large-scale adoption.
By combining the protections institutions require with the infrastructure they already trust, Fireblocks Trust Company is accelerating the next phase of institutional engagement.
Fireblocks Trust Company officially launched after receiving its New York state trust charter in August, following the company’s initial announcement in May to form a limited-purpose trust for cold storage custody services targeting U.S. clients.
Traditional banks deepen push into crypto custody
Fireblocks’ announcement arrives as global banks continue entering the digital asset custody space. In July, Deutsche Bank revealed plans to offer Bitcoin and cryptocurrency storage via a partnership with Bitpanda’s technology unit, marking its biggest step into digital finance.
Shortly after, Citigroup to be developing crypto custody and payments capabilities, while U.S. Bancorp reintroduced its own custody service tailored for institutional asset managers in September.
As more financial heavyweights explore regulated crypto infrastructure, Fireblocks Trust Company’s partnerships position it as a critical bridge between traditional finance and the growing digital asset economy, ensuring compliance and scalability remain at the forefront of institutional adoption.