TREE NEWS update: Blockstream has launched an institutional digital asset custody solution developed with French technology group Thales, combining Thales hardware security modules with Blockstream’s Secure-MPC technology so institutions can authorize transactions while keeping cryptographic operations inside dedicated secure hardware. CEO Adam Back said traditional MPC protocols are too complex and interactive for fully offline cold storage, and cited the $6.3 billion Binance hack as evidence of the risks facing connected custody infrastructure.
Blockstream Launches Institutional Bitcoin Custody With Thales HSMs
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AI take
Blockstream is positioning against the exchange-style custody model by arguing that connected infrastructure is the weak link, using Binance's loss as the cautionary reference. The pitch targets institutions that want MPC's flexibility without exposing key operations to online systems, a segment where hardware-backed claims are becoming a differentiator. Whether Thales-branded HSMs and Secure-MPC translate into verifiable offline authorization at scale is the open question, and whether custody providers converge on this architecture or keep hybrid models is worth watching.
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