Fireblocks plans to establish a regulated limited-purpose trust company

ChainCatcher news, according to CoinDesk, cryptocurrency custody company Fireblocks plans to establish a limited-purpose trust company under the regulation of the New York Department of Financial Services (NYDFS). The company stated on Friday that Fireblocks Trust Company will provide cold storage custody services to U.S. clients before final regulatory approval is obtained.

It is reported that the New York-based company is also creating a licensed custody institution network called the Global Custody Partner Program, which will launch this quarter, with the first companies coming from the United States, United Arab Emirates, United Kingdom, Singapore, Thailand, and Australia.