Meet BitGo Trust: First Qualified Cryptocurrency-Only Custodian Service
Robin Verderosa, Product Marketing at BitGo, announced on May the 24th in a blog post, that BitGo is building the first qualified custodian specifically designed for cryptocurrencies. The main intention is to develop a new, regulated and qualified custodian that will be the first built for digital assets.
Mrs. Verderosa explains that the company has been working closely with different customers with the intention to understand their custodial needs. The results shown that BitGo had to build its own qualified custodial offering, and this is why the company has decided to acquire Kingdom Trust.
At the moment, BitGo is offering different custody options, including self-custody and full custody. BitGo will also seek to expand the offering with a product for investors located in the United States.
Mrs. Verderosa wrote in the blog post:
“BitGo Trust is ground-breaking for our industry because it will be the first qualified custodial solution designed specifically to hold digital assets for institutional investors independent of any exchange or trading activities.”
According to BitGo, financial markets and past crises have demonstrated that there is a need for custodianship of assets by and independent custodian. With this latest development, the company will be building an essential piece of the modern market infrastructure that the cryptocurrency world is searching for.
As explained by BitGo, this is just one more step so as to make digital currency investing accessible to everyone, in a secure and reliable manner.