PALO ALTO, Calif. (BUSINESS WIRE) BitGo, the market leader in institutional cryptocurrency financial
services, announced today that it has exceeded its milestone to reach
100 coins and tokens by the end of 2018. BitGo now delivers
multi-signature security for over 100 coins and tokens in its wallet and
custody offerings. Stablecoins are among the new coins and tokens
supported including CENTRE USD (USDC), Gemini Dollar (GUSD), MakerDAO’s
Dai (DAI), Paxos Standard Token (PAX), and TrustToken’s TrueUSD (TUSD).
BitGo determines which digital currencies to support based on demand
from institutional clients. At the start of 2018, BitGo multi-signature
wallets supported seven coins. In April, BitGo launched support for
ERC20 tokens. In July, with 57 coins and tokens supported, the company
announced that it would reach 100 by the end of the year. In just the
past few months, BitGo added Zcash, Dash, Stellar, as well as support
for more than 30 tokens. In addition to multi-signature wallet security,
BitGo provides clients with the option to have their assets held by
BitGo Trust Company, the first qualified custodian purpose-built for
digital assets.
BitGo’s multi-signature security architecture uses multiple
cryptographic signatures to enact a transaction, thereby eliminating the
single point of failure with traditional wallets. Keys can be
distributed across independent individuals, geographies, and storage
techniques, which is why multi-signature is considered mandatory for
high security blockchain applications.
“BitGo is the first multi-signature wallet platform with support for
such a wide offering of highly traded digital currencies,” said Ben
Chan, CTO, BitGo. “Institutional investors and exchanges appreciate the
scalability and security that our single, unified API provides. Our
clients want to hold and trade a wide array of currencies that’s why
we set the goal of delivering support for 100 coins and tokens by the
end of 2018.”
BitGo has been focused on the stability and value of collateralized
coins in other ways as well. The company recently worked with a
community of network partners to launchWrapped
(WBTC). Backed 1:1 with Bitcoin, WBTC delivers the power ofBitcoin with the flexibility of an ERC20 token. BitGo will be the
custodian for the initiative.
To view all coins and tokens supported by BitGo, visit ourmulticurrency
page
.About BitGo:
BitGo is the market leader in institutional cryptocurrency financial
services, providing clients with security, compliance, and custodial
solutions. BitGo is the world’s largest processor of on-chain bitcoin
transactions, processing 15% of all global Bitcoin transactions, and $15
billion per month across all cryptocurrencies. The company supports over
100 coins and tokens, and has over $2 billion in assets in wallet.
BitGo’s customer base includes the world’s largest cryptocurrency
exchanges and spans more than 50 countries. In 2018, it launched BitGo
Trust Company, the first qualified custodian purpose-built for storing
digital assets. BitGo is backed by Craft Ventures, DRW, Galaxy Digital
Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
Contacts
Media contact:
Clarissa Horowitz
BitGo
Press@BitGo.com
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