The head of Web3 at Fireblocks said traditional financial firms are moving further into crypto. Fireblocks custody funds on behalf of more than 1,500 financial institutions and enables them to interact with blockchain and crypto services.
These companies, especially the more traditional ones, started with managed services and slowly moved to more crypto-native interactions, Amsel said.
“We’re seeing more and more traditional finance exploring ways to get into cryptocurrencies, maybe they’re taking a more timid approach,” Amsel said.
Amsel gave a hypothetical example where a company might have started using cryptocurrency custody a year or two ago. He said the companies took the first step, saw that there was no problem, and then started exploring the technology more.
