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Bakkt, Castle Island FalconX and Galaxy Select Fireblocks Trust Company for Institutional Crypto Custody

By Dominic Sow · 8 October 2025

Fireblocks Trust Company partners with Bakkt, Castle Island, FalconX, and Galaxy to provide regulated digital asset custody, with CEO Adam Levine emphasizing its role in driving institutional adoption.
Fireblocks Trust Company, the New York State-regulated qualified custodian powered by the Fireblocks platform, today announced that it has partnered with Bakkt, Castle Island, FalconX, Galaxy, and others, offering its custody solutions to support regulated digital asset strategies across the financial ecosystem. As digital asset ETFs and digital asset treasuries (DATs), protocol launches, and collateralized lending move into the regulatory spotlight, Fireblocks Trust Company has become a critical enabler for institutions seeking compliant, secure infrastructure.        Operating under full NYDFS oversight, Fireblocks Trust Company provides a custody framework that integrates seamlessly with Fireblocks’ security stack and its network of more than 2,400 institutions. Built on industry-leading cold storage technology, the platform combines unmatched security with broad asset coverage and direct connectivity across the Fireblocks Network, setting the benchmark for institutional digital asset custody.  "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, 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."  “Galaxy leverages a range of regulated custody providers to meet the diverse needs of our institutional client base,” said Andrew Taubman, Deputy Chief Operations Officer at Galaxy. “Fireblocks Trust Company adds important capabilities to this network, supporting secure, compliant growth across digital asset markets.”  Use cases gaining traction include: 
  • Token launches: Foundations and protocols using qualified custody to meet TGE compliance requirements
  • ETF issuance: Regulated custody with robust segregation and auditability for digital asset products
  • Institutional lending & collateral management: Secure custody combined with legal and operational frameworks
  • Regulated staking: Policy-controlled validator access through established providers like Figment. 
“Bakkt has built crypto brokerage infrastructure that allows institutions to access crypto trading within regulated frameworks” noted Nicholas Baes, Chief Operating Officer 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."  For many organizations, a qualified custodian also serves as a strategic first step and a low-barrier entry into the adoption of digital assets. As their digital asset businesses mature and the regulatory environment continues to evolve, organizations can confidently transition to self-custody or hybrid models on the same trusted Fireblocks platform. “Regulated custody is now a catalyst for institutions moving beyond early implementation toward true adoption of digital assets,” said Adam Levine, CEO of Fireblocks Trust Company. “By combining the protections they require with infrastructure they already trust, Fireblocks Trust Company is helping drive the next phase of institutional adoption.”  “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,” said Ben Dapkiewicz, General Manager, Custody at FalconX. “Fireblocks Trust Company provides qualified custody that helps strengthen the bridge between traditional finance and crypto as these markets continue to mature.”  Fireblocks Trust Company continues to support a range of institutions including banks, asset managers, protocol teams, and venture investors, helping to bridge blockchain innovation with the evolving fiduciary and regulatory requirements. 

Companies in this story: Fireblocks, FalconX, Bakkt

People in this story: Adam Levine

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