Fireblocks, a cryptocurrency custody specialist, plans to establish a limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS). The Fireblocks Trust Company will provide cold-storage custody for U.S. clients pending regulatory approval. The move follows a shift towards self-custody in the wake of the FTX collapse. Fireblocks also aims to expand its Global Custodian Partner Program, incorporating licensed custodians worldwide.
