Silo Pharma engages Fireblocks for crypto treasury custody services

Silo Pharma, Inc. (NASDAQ: SILO) announced it has engaged Fireblocks as custodian for its institutional crypto treasury platform. The biopharmaceutical and cryptocurrency treasury company will use Fireblocks' infrastructure to support its Bitcoin, Ethereum, and Solana treasury strategy.

"Our engagement with Fireblocks is expected to ensure that our newly deployed crypto treasury platform is built with enterprise grade security and governance standards," said Silo CEO Eric Weisblum. The company plans to use the platform for buying, staking, trading, and managing digital assets.

Fireblocks operates an enterprise platform for blockchain applications and digital asset operations. The company reports having facilitated the secure transfer of more than $6 trillion in digital assets. Its security framework combines multi-party computation technology, Intel SGX, a signature policy engine, and a deposit address authentication network.

"Partnering with Silo reflects our commitment to delivering secure, institutional-grade infrastructure that enables long-term value creation in digital assets," said Ezra Solomon, Senior Manager of Corporate Strategy at Fireblocks.

Silo Pharma describes itself as a diversified developmental-stage biopharmaceutical and cryptocurrency treasury company. Its therapeutic portfolio includes programs targeting stress-induced psychiatric disorders, chronic pain, and central nervous system diseases, including SPC-15 for PTSD and SP-26 for fibromyalgia and chronic pain.

The information is based on a company press release statement.

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