BitGo To Offer Institutional Investors Custody Services
Blockchain security company BitGo has announced plans to introduce and develop a cryptocurrency custody service for institutional investors, BitGo Trust Company. Corporate entities will be able to buy and sell Bitcoin with the reassurance that their funds are protected. This makes another cryptocurrency company entering the crypto custody space but reportedly the first qualified custodian specifically built for digital assets.
BitGo Inc prides itself as a market leader in institutional-grade cryptocurrency investment services. They have provided institutions with solutions such as multi-signature security for large exchanges such as UPbit, Kraken and Korbit. They introduced the first multi-signature hot wallet able to protect funds to buy and sell crypto for live orders. The company has become one of the largest processors of on-chain Bitcoin transactions accumulating 15% of global transactions.
Supporting more than 75 coins and tokens, BitGo can offer custody on a diverse range of cryptocurrencies. Their custody service offers 100% cold storage in bank grade Class III vaults, institutional-grade policy controls, multi-user accounts, fast onboarding and 24/7 support. When a client looks to sell crypto, all this protection results in multiple levels of authorisation to access the funds.
BitGo has been in the crypto space since 2013 and continues to provide support for institutions. They believe the development of infrastructure around cryptocurrency services will attract more investment to the space. When hacks are a major concern, safety of assets is essential. No institutional investor will buy and sell cryptocurrency if they believe their funds are at risk.
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