BitGo Crypto Custody Expansion Continues Adding Tron (TRX) Cryptocurrency Wallet and Storage

TRON announced on Tuesday through a press release that BitGo would be providing wallet and custody support later in 2019.

According to TRON founder Justin Sun, the collaboration between BitGo and TRON will give institutional investors the ability to trade TRX with confidence. Sun said it was important for TRON and BitTorrent to work with companies who can offer a “secure foundation” as both strive towards “creating a new internet economy that is fast, secure, and cost-effective.”

BitGo is an industry leader in institutional crypto financial services, and pioneered multi-signature security, according to the release. It processes nearly $15 billion dollars’ worth of cryptocurrency transactions each month and is the globe’s largest on-chain Bitcoin transaction processor.

TRON is “dedicated to creating a boundary-free internet that inspires innovation across industries” and offers “high throughput, high scalability, and high availability for all Decentralized Applications (DApps).

BitGo chief technology officer Ben Chan noted how supporting TRX later in 2019 represented an important step forward for institutional investors who desire a “wallet provider and custodian who can support a full range of digital assets.”

Chan also indicated that “BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services.”

News of the partnership with BitGo came on the heels of TRON’s ninth ERC20 token burn as part of a general shift to its own mainnet. TRON’s network has also made headlines due to its strong presence in the decentralized application (Dapp) world.

The network currently hosts more than 200 Dapps and recent numbers said TRON has at least 60,000 new users each day. Popular TRON-built apps include gambling platforms Crazy Dogs Live and PLAY GOC, and the ‘Epic Dragons’ game.

According to DappReview, TRON has been at the top of the list of ‘total Dapp users’ and ‘active Dapp users’ in the past two months. It takes longer for TRON Dapps to die out since it has “significantly” fewer mining machines and miners.

Vincent Niu wrote in a February 18th Medium post how EOS was “stronger” than Tron in October and November, but the ‘mining-style gambling’ died out by December due to miners and their machines.

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Kevin
Kevin
Kevin has spent time living and working in five countries and is particularly interested in cryptocurrencies role in international development.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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