Fireblocks Granted New York Charter for Crypto Custody

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Charter License Obtained
  2. Fireblocks' Plans
  3. Benefits of Limited Charter License


    4. On August 14, Fireblocks announced it had received a New York state charter to custody cryptocurrency for clients in the United States.

    Charter License Obtained

    Fireblocks Trust Company, LLC has received its limited purpose trust company charter to engage in virtual currency business and will soon begin offering cold storage custody solutions powered by Fireblocks' technology to US customers.

    Fireblocks' Plans

    In May, Fireblocks announced its intention to launch a limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS) named Fireblocks Trust Company, which will offer cold storage custody solutions to US clients. Fireblocks now joins a growing list of institutional crypto companies, including Coinbase Custody Trust, Fidelity Digital Asset Services, and PayPal Digital, authorized by NYDFS to custody assets.

    Benefits of Limited Charter License

    Obtaining a limited purpose trust charter is an alternative to New York's demanding BitLicense regime for crypto companies seeking to do business in the state. Limited purpose trust companies can exercise fiduciary powers, including custodial services, and can engage in money transmission in New York without obtaining a separate New York money transmitter license.

    Obtaining the New York state charter is part of Fireblocks' broader plan to create a global network of regulated cryptocurrency custodians. These solutions will support the needs of institutional market participants.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

PONS Token Surges on Robinhood Chain

chest

The PONS token has seen a significant increase in value and market capitalization on the Robinhood Chain, with a price rise to 0.5978 and a market cap exceeding 430 million, marking a 3182% increase in just 24 hours.

user avatarMiguel Rodriguez

Ecb Releases New Report on Editorial Standards

chest

The European Central Bank has published a report emphasizing its strict editorial policy that focuses on accuracy, relevance, and impartiality.

user avatarLuis Flores

New Report Released Based on Sec Information

chest

A report has been generated based on the information released by Sec. This release aims to inform the public and increase awareness of the information provided.

user avatarArif Mukhtar

Metaplanet Acquires Additional 1,007 Bitcoin, Reaches 20,000 BTC Milestone

chest

Metaplanet has acquired an additional 1,007 Bitcoin for $69 million, reaching a total of 20,000 BTC.

user avatarMaria Gutierrez

New Editorial Guidelines Introduced to Guarantee Accurate Reporting.

chest

A new editorial policy has been launched that emphasizes accuracy, relevance, and impartiality in all reports.

user avatarDavid Robinson

Jim Cramer Proposes Major Nvidia Stock Buyback

chest

Jim Cramer suggests Nvidia should quintuple its stock buyback authorization to $500 billion.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.