Institutional crypto infrastructure expanded on two fronts this week, with Galaxy Digital launching a regulated custody entity and BitGo broadening self-custody access to leveraged perpetual markets.
Galaxy Digital has introduced Fireblocks Trust Company, a New York Department of Financial Services-regulated entity designed to provide qualified custody for digital assets. The move formalizes a custody relationship Galaxy has used for years. As institutional demand for compliant asset custody grows, the NYDFS-regulated structure is intended to add stricter oversight and security guarantees for clients. The announcement did not include specific volume or asset figures, but it signals a long-term push into regulated infrastructure.
BitGo separately announced that eligible self-custody hot wallet clients can now connect to Hyperliquid through WalletConnect. The integration allows clients to place, modify and close perpetual futures orders without creating a separate wallet or seeking repeated BitGo signatures once a one-time activation is complete. Deposits and withdrawals still follow existing wallet approval policies, including multi-user authorization where configured, preserving controls around asset movement while reducing friction in active trading. The feature is available only to eligible existing clients and excludes restricted jurisdictions such as the United States, United Kingdom and Canada. BitGo emphasized that the connection applies solely to self-custody hot wallets and remains separate from its qualified custody services.
In Asia, BitGo Korea received acceptance of its Virtual Asset Service Provider registration from the Korea Financial Intelligence Unit, allowing the local entity to offer virtual asset custody and transfer services to institutional clients in South Korea. Hana Financial Group and SK Telecom are strategic shareholders in BitGo Korea. Although the registration does not authorize exchange operations, it extends BitGo’s institutional footprint in the region.
These developments highlight a broader institutional emphasis on regulated custody and compliant derivatives access, potentially encouraging larger participants to enter digital asset markets with clearer operational and legal frameworks.
