Blockstream and Thales launch Bitcoin custody system built around offline signing

Adam Back's company is betting institutions want hardware-locked keys and simpler security as cyberattacks grow more sophisticated Blockstream has rolled out a new institutional custody system for Bitcoin . Its core idea is pleasantly old-fashioned: keep the keys away from the internet. The product was built with French technology group Thales and announced on Friday, November 13, 2026. It pairs Thales hardware security modules with Blockstream’s own Secure Multi-Party Computation technology. The pitch is that institutions can approve transactions while sensitive key material stays sealed inside dedicated hardware. The timing is deliberate.