When it comes to safeguarding digital assets, institutions require optionality: secure digital assets self-custody for day-to-day control, and access to qualified custody when regulatory or fiduciary obligations demand it. All delivered through integrated, trusted infrastructure.
Fireblocks Trust Company, a qualified custodian under New York State law and regulated by the New York Department of Financial Services (NYDFS), has been delivering a regulatory-compliant framework purpose-built to safeguard digital assets for institutions for over a year.
Since initial launch and regulatory approval in 2024, Fireblocks Trust has been working with some of the biggest names in the industry to hold their assets safely and securely. Today, I’m excited to announce our growing ecosystem, including Castle Island, FalconX, Bakkt, and Galaxy, among others.
Galaxy leverages a range of regulated custody providers to meet the diverse needs of our institutional client base. Fireblocks Trust Company adds important capabilities to this network, supporting secure, compliant growth across digital asset markets.”
– Andrew Taubman, Deputy Chief Operations Officer, Galaxy
Designed to meet the highest standards of fiduciary responsibility, our framework ensures best-in-class protection of digital assets, discrete asset segregation and operational execution that promotes transparency and effective risk management – subject to full regulatory oversight.
Following the SEC’s no-action letter issued on September 30th, the regulatory pathway is now clearer than ever for state trust companies to serve as qualified custodians for crypto and digital assets. This guidance underscores the critical role that state-chartered trust companies, like Fireblocks Trust, play in enabling institutional crypto adoption—with robust oversight and standards firmly in place. With more regulatory clarity than ever before, there has never been a better time for institutions to seize the moment and engage with crypto and digital assets.
Setting the Standard in Digital Asset Custody Security and Support
Fireblocks Trust combines the robust protections of traditional financial custody with the technological sophistication required to support the evolving digital asset market. Built on the same bank-grade Fireblocks infrastructure that protects over $10 trillion in assets across 300 million wallets, Fireblocks Trust offers unmatched institutional crypto asset security and operational control. Our defense-in-depth security architecture and crypto-native expertise ensures your assets are protected against evolving threats, while giving you the flexibility to manage institutional treasuries, fund structures and staking for yield generation at scale.
Our solution is designed to safeguard client funds, allowing them to focus on business growth. Fireblocks Trust Company has unparalleled security standards and the technical ability to support an expansive range of assets.
Built on Fireblocks cold storage custody, layered with top physical security measures, we ensure clients’ assets are protected by the highest security standards. By leveraging the proven Fireblocks infrastructure, Fireblocks Trust Company has the unique technical ability to support the assets that help power our clients’ businesses. We continuously work together to assess the assets in demand that meet our regulatory requirements.
Bakkt has built crypto brokerage infrastructure that allows institutions to access crypto trading within regulated frameworks. Fireblocks Trust Company’s role as a qualified custodian is a pivotal element to our ecosystem, ensuring that our clients have a secure and compliant foundation to protect their assets.”
– Nicholas Baes, Chief Operating Officer, Bakkt
For many organizations, a qualified custodian also serves as a strategic first step into the adoption of digital assets. As their digital asset businesses mature and the regulatory environment continues to evolve, organizations can also leverage a combination of self-custody and qualified custody on the same trusted Fireblocks platform.
As a leading digital asset prime brokerage, institutions rely on us for deep liquidity and trusted access to markets. For those same clients, regulated custody is a critical piece of the puzzle. Fireblocks Trust Company provides qualified custody that helps strengthen the bridge between traditional finance and crypto as these markets continue to mature.”
– Ben Dapkiewicz, General Manager, Custody, FalconX
Venture capital firms, prime brokers, banks, digital asset treasuries (DATs), ETF providers and asset managers are turning to Fireblocks Trust Company to deliver on these needs and help scale their business.
Inside the Playbook: Institutional Strategies with Fireblocks Trust
Institutions are increasingly seeking regulated custody solutions across a number of use cases, including:
Token Generation & Protocol Launches
Blockchain foundations need operational infrastructure that meets early investor expectations and regulatory demands. VC’s investing in crypto and blockchain protocols need a qualified custodian to safeguard those investments. Fireblocks can now bolster emerging protocols by extending wallet support for an asset to the Fireblocks ecosystem and complement with Fireblocks Trust Company’s qualified custody for investors.
Fireblocks Trust can support foundations where their investors need a custodian, providing their VCs a qualified custodian to hold the tokens during their vesting period (and beyond).
As a venture capital firm responsible for protecting our stakeholders’ investments, regulatory compliance and security are non-negotiable. Fireblocks Trust Company delivers on both fronts with their qualified custodian status and robust operational controls. The connectivity to the Fireblocks Network, leveraging the same experience we are used to with our self-custody wallet, has been a crucial and important differentiator, and has simplified our operations between the two treasury worlds.”
– Matt Walsh, Founding Partner, Castle Island
Institutional Crypto Lending Built on Trust
The institutional digital asset lending market requires confidence and efficiency in their solutions. Lenders and Counterparties need assurance that their collateral is protected. Borrowers need operational flexibility. Regulators demand clear custody controls. Fireblocks Trust solves this through qualified tri-party custody solutions designed specifically for institutional credit markets.
Collateral sits in segregated accounts under Fireblocks Trust’s custody, protecting lender interests while giving borrowers access under predefined terms. This structure creates the regulatory clarity and operational controls institutions need to scale credit operations confidently.
The result:
- Lenders can deploy capital without custody risk
- Borrowers maintain trading flexibility with clear collateral terms
- Both parties meet regulatory expectations through qualified custody
- Exchanges and trading desks can facilitate more efficient capital markets
For institutional lending desks and their clients, Fireblocks Trust enables institutions to lend and borrow digital assets at scale.
The Next Wave of Digital Asset ETFs and DATs
ETF issuers and DATs face intense regulatory scrutiny. Key stakeholders demand proof of control, strong risk mitigation and institutional-grade custody standards. Regulators require institutional-grade custody standards. Meeting these requirements demands custody infrastructure designed with public market compliance at its core. Fireblocks Trust delivers on these demands.
Our qualified custody framework delivers the segregation, governance, and reporting standards that publicly traded entities need, not as an afterthought, but by design. Whether you’re an ETF issuer launching spot crypto products that meet SEC requirements, or a DAT expanding into staking and DeFi while maintaining public company controls, Fireblocks Trust provides the regulated infrastructure these offerings demand.
The result is clear: public market players can now offer digital asset exposure — from Bitcoin ETFs to staking yields — backed by custody infrastructure that satisfies regulators, auditors and institutional investors alike.
Staking Strategies
For institutions increasingly seeking to stake assets for native yield, compliance requirements can now turn from blockers to enablers. Fireblocks Trust bridges these needs by enabling secure, policy-controlled staking with Figment directly from qualified custody accounts, powering asset managers and funds with the ability to generate onchain rewards responsibly.
Get Started
Fireblocks Trust Company has the unique capability to not only support a range of institutions and use cases, but also the expansive capability of assets that are eligible powered by our industry-leading, all-in-one platform. If you’re interested in bridging the gap between blockchain innovation and traditional finance, we want to hear from you. Bring your own use cases, and contact our team today.
FAQs
What is Fireblocks Trust Company?
Fireblocks Trust is a qualified digital asset custodian regulated by the NYDFS. It provides secure, qualified custody for institutional digital assets leveraging a regulatory-compliant framework and built on Fireblocks’ core infrastructure.What is a qualified custodian?
A qualified crypto custodian is a financial institution, such as a bank or trust company, that meets specific regulatory requirements to securely safeguard digital assets on behalf of its clients. Qualified custodians offer enhanced institutional-grade security, regulatory compliance, and legal and fiduciary protections, including asset segregation.
In the U.S., the SEC’s no-action letter issued on September 30th further underscores the importance of state trust companies like Fireblocks Trust to serve as qualified custodians for crypto and digital assets, providing additional regulatory clarity for institutional adoption.What use cases does qualified custody enable for institutions?
Cold Custody: Securely safeguard digital assets in Fireblocks air-gapped wallets with institutional-grade security and operational support from a regulated fiduciary.
Token launches: Foundations and protocols using qualified custody to meet TGE compliance requirements
ETF asset custody: Regulated custody with robust segregation and auditability for digital asset products
Institutional collateral management: Secure custody combined with legal and operational frameworks
Regulated staking: Policy-controlled validator access through providers like FigmentWhat types of institutions can work with Fireblocks Trust?
Fireblocks Trust works with both crypto-native/web3 companies and traditional financial institutions, including blockchain foundations and VC firms, institutional crypto prime brokers, crypto custody providers, investment banking, asset managers, crypto trading companies, and more.How can I get started with Fireblocks Trust?
Visit our website to learn more or contact us directly at [email protected].
