Fireblocks Wins Major Institutional Deals With Bakkt, Galaxy, And Castle Island
Fireblocks Trust Company, the New York State–regulated qualified custodian built on the Fireblocks platform, has announced partnerships with Bakkt, Galaxy, Castle Island, and FalconX. The move cements Fireblocks’ status as a key enabler of compliant digital asset infrastructure for financial institutions navigating a rapidly maturing regulatory landscape.
Operating under full NYDFS oversight, Fireblocks Trust Company offers a custody framework that blends cold-storage security with seamless connectivity to its network of over 2,400 institutions. The company’s infrastructure underpins critical institutional use cases, from platform-traded funds (ETFs) and digital asset treasuries (DATs) to collateralized lending and token generation events (TGEs).
“As a venture capital firm responsible for protecting our stakeholders’ investments, regulatory compliance and security are non-negotiable,” said Matt Walsh, Founding Partner of Castle Island. “Fireblocks Trust Company delivers on both fronts with their qualified custodian status and robust operational controls. The connectivity to the Fireblocks Network… has simplified our operations between the two treasury worlds.”
Takeaway
How Regulated Custody Is Fueling The Next Phase Of Institutional Crypto
The surge in digital asset ETFs and collateralized lending has pushed custody into the regulatory spotlight. Institutions require trusted frameworks that balance innovation with compliance — a challenge Fireblocks Trust Company appears to have solved. Built atop Fireblocks’ security stack, the platform offers auditability, asset segregation, and policy-controlled Block confirmer access for staking through partners like Figment.
Andrew Taubman, Deputy Chief Operations Officer at Galaxy, highlighted the need for diversification: “Galaxy leverages a range of regulated custody providers to meet the diverse needs of our institutional client base. Fireblocks Trust Company adds significant capabilities to this network, supporting secure, compliant growth across digital asset markets.”
Beyond ETFs and staking, lending, integrating legal and operational controls that align with emerging fiduciary standards. This adaptability has assisted position the custodian at the intersection of digital innovation and regulatory acceptance — a critical milestone for mainstream markets.
Takeaway
Building The Bridge Between Traditional Finance And Digital Assets
Institutions like Bakkt and FalconX view qualified custody as the missing link between traditional finance (TradFi) and digital assets. “Bakkt has built crypto brokerage infrastructure that allows institutions to access crypto trading within regulated frameworks,” said Nicholas Baes, COO of Bakkt. “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.”
Ben Dapkiewicz, General Manager of Custody at FalconX, echoed that sentiment: “Institutions rely on us for deep liquidity and trusted access to markets. For those identical clients, regulated custody is a critical piece of the puzzle. Fireblocks Trust Company provides qualified custody that assists strengthen the bridge between as these markets continue to mature.”
Adam Levine, CEO of Fireblocks Trust Company, positioned the moment as a tipping point for institutional adoption. “Regulated custody is now a catalyst for institutions moving beyond ahead implementation toward true adoption of digital assets,” he said. “By combining the protections they require with infrastructure they already trust, Fireblocks Trust Company is assisting drive the next phase of institutional adoption.”
