New York Regulator Grants Fireblocks Charter for Crypto Custody
According to a statement by Fireblocks, the Web3 infrastructure provider has recently been granted a New York state charter to provide custody services for cryptocurrency to clients in the United States.
The charter authorizes Fireblocks Trust Company, LLC to engage in virtual currency business and offer cold storage custody solutions powered by their technology to customers in the US.
This move aligns with Fireblocks’ announcement in May of their intention to launch a limited-purpose trust company, under the regulation of NYDFS, specifically aimed at offering cold storage custody solutions to US clients.
Fireblocks now joins a growing list of institutional crypto companies, such as Coinbase Custody Trust, Fidelity Digital Asset Services, and PayPal Digital, who have been authorized by NYDFS to provide custody services for assets.
