Overview

• Fireblocks Trust Company formalized partnerships with Bakkt, Galaxy Digital, FalconX and Castle Island to expand qualified, NYDFS-supervised crypto custody for institutions.
• Galaxy’s July integration lets more than 2,000 Fireblocks-connected firms access staking through Galaxy, which reports managing about $3.15 billion in staked assets.
• Bakkt says it rebuilt its custody stack on Fireblocks technology to replace legacy systems, aiming for greater scalability and tighter policy-based controls.
• Fireblocks’ platform connects directly to over 2,400 financial institutions and uses cold storage with auditability and asset segregation, and the company says it has safeguarded over $10 trillion in digital asset transactions.
• Institutional uptake is accelerating following the SEC’s January rescission of SAB 121, with banks exploring or relaunching custody services and ETF growth driving demand for regulated infrastructure.