Fireblocks and Taurus are among the crypto firms expanding services to meet institutional demand for digital asset storage.
The storage of digital assets for institutional clients is the next target for crypto firms in North America, driven by the merger of traditional financial products with cryptocurrencies. Taurus and Fireblocks are two of the most recent infrastructure providers looking to expand their custodial business in the region.
On May 21, Switzerland-based Taurus announced an office in Vancouver, British Columbia, Canada, “in response to the growing demand” for tokenization and custody services. Additional expansions are awaiting “the completion of a number of pending deals,” Lamine Brahimi, co-founder and managing partner at Taurus, told Cointelegraph.
The same trend is also pushing Fireblocks to launch a limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS). “It is increasingly clear that there is a lack of qualified custodians in the United States covering digital assets,” said Adam Levine, senior vice president of corporate development at Fireblocks.
