State Street Digital unveiled a new qualified custody solution supporting 23 proof-of-stake assets. The offering includes institutional-grade staking services with customizable slashing insurance. Competitors like Fidelity and BNY Mellon have expanded their custody networks in response.
The platform integrates with Fireblocksβ MPC wallet infrastructure and Chainlinkβs proof-of-reserve feeds. Early adopters include pension funds and sovereign wealth funds entering crypto allocations. This reflects growing demand for regulated custody amid spot ETF approvals.
Regulatory filings show BlackRock filed for a blockchain-based custody patent last week. These developments signal accelerated institutional infrastructure building, though concerns persist about concentration risks among traditional custodians.