Fireblocks Partners with Galaxy and Bakkt to Expand Institutional Crypto Custody

Fireblocks Trust Company, a New York-regulated custodian, has joined forces with Galaxy Digital, Bakkt, FalconX, and Castle Island to address the surging demand for secure digital asset storage among institutional investors. The collaboration leverages Fireblocks' NYDFS-regulated infrastructure, which already serves over 2,400 financial institutions through cold storage technology safeguarding more than $10 trillion in blockchain transactions.

Regulated custody solutions have become the linchpin for traditional finance's crypto adoption, according to Fireblocks CEO Adam Levine. The partnership provides banks and investment firms with the compliance framework and security protocols required to mitigate legal risks—a prerequisite for institutional participation in digital asset markets.