BitGo And Kingdom Trust Launch Institutional Grade Custodial Services
During the last weekend, BitGo announced that it launched a custodial storage solution for institutional investors. The main purpose of the program is to offer a multi-level suite for digital asset security. In order to do so, BitGo has signed a partnership with the firm Kingdom Trust.
BitGo Offers Platform For Institutional Investors
According to a statement released by BitGo, the company has decided to sign a partnership with Kingdom Trust in order to address the regulatory compliance requirements essential for institutional investors. This is an important step for the cryptocurrency environment that is getting more mature as time passes. Several traditional financial institutions are starting to provide crypto-related services to its clients.
The partnership between these two companies is a paradigm shift for investors due to the fact that it provides years of experience in digital assets solutions for institutional investors, it meets regulatory compliance requirements around custody of digital assets, and it solves the most challenging issues concerning security.
BitGo’s Offline Storage white paper reads as follows:
“Secure your digital assets in an offline multi-signature vault in minutes. An offline vault generates and stores private wallet keys on a clean air-gapped computer. To spend funds from an offline wallet securely, you can sign transactions with your private key offline using BitGo Offline Vault. This means your private keys are never online or linked to a computer connected to the internet.”
These news follows the new implementation by the company of new virtual currencies, including Bitcoin Cash (BCH), Litecoin (LTC), Ether (ETH), Ripple (XRP), and others. Back on April the 17th, BitGo added support for ERC-20 tokens. In this way, BitGo starts to offer a service to clients that were not able to access these products.