Fireblocks launches Fireblocks Global Custodian Partner Programme

US-based cryptocurrency custody company Fireblocks has announced the launch of the Fireblocks Global Custodian Partner Programme

US-based cryptocurrency custody company Fireblocks has announced the launch of the Fireblocks Global Custodian Partner Programme. This programme aims to establish a global network of licenced digital asset custodians to assist its customers in meeting increasingly stringent regulatory standards.

The Fireblocks Global Custodian Partner Programme, built on the Fireblocks Network, will debut this quarter with an initial selection of licenced custodians spanning the United States, the United Arab Emirates, the United Kingdom, Singapore, Thailand, and Australia. Once operational, Fireblocks customers will gain secure access to licenced providers while seamlessly managing their digital asset operations on the Fireblocks platform. What has prompted this initiative? This initiative responds to the rising institutional demand for reputable custodians in the digital assets sector.

According to Fireblocks, asset managers, registered investment advisors, and other significant financial market participants are seeking exposure through tokenization, ETFs, allocation, or advisory services, driving the need for compliant custody solutions. Additionally, regulatory pressures, exemplified by the US Securities and Exchanges Commission's proposal for enhanced asset safeguarding requirements for registered investment advisors, further motivated initiatives such as the Fireblocks Global Custodian Partner Programme. In addition to launching this programme, Fireblocks aims to facilitate client access to asset-protection services by announcing its intention to establish a limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS).

Pending final regulatory approval, the Fireblocks Trust Company will provide cold storage custody solutions to US clients. Officials from Fireblocks emphasised the programme's significance and talked about the constantly evolving nature of the global custodian landscape. They believe that the launch of the Global Custodian Partner Programme represents a step forward in meeting the growing demand for a diverse network of solutions.

Fireblocks leverages its technology to enable clients and RIAs to comply with new rules by facilitating easily accessible custody arrangements. In essence, following the programme's launch, clients will be able to leverage the Fireblocks infrastructure as a single access point to licenced custodians, liquidity pools, exchanges, on/off ramps, staking services, and more, all integrated within the Fireblocks Network. Moreover, additional custodians are expected to join the programme in the coming months.

More information about Fireblocks Fireblocks is an enterprise-grade platform offering secure infrastructure for moving, storing, and issuing digital assets. Through the Fireblocks Network and MPC-based Wallet Infrastructure, Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to scale digital asset operations securely. The platform serves thousands of financial institutions, facilitating the secure transfer of over USD 4 trillion in digital assets according to the official press release.


May 13, 2024 09:30
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