MultiSig Wallet BitGo Announces Steller Lumens (XLM) Cryptocurrency Support

BitGo recently announced that they are going to support Stellar Lumens (XLM) making it the first multi-signature wallet and custodial solution to support XLM.

With Lumens added to the list of tokens and coins on BitGo, the custodial solution now supports a grand total of 115 virtual currencies. It offers the best security for institutional investors who have an eye for investing in different cryptocurrencies to deal-out the risks involved.

BitGo is a cryptocurrency and blockchain infrastructure provider that has taken a focus on asset management, allowing exchanges and institutions to store their hard-earned or customer-owned crypto tokens on BitGo’s custody and wallet product. Its influence over crypto shouldn’t be counted out, with the firm reportedly being the largest Bitcoin processor in the world. It processes over $15 billion in transactions in a month from its 300+ clients that operate in over 50 countries and regions.

“We’re continuously adding support for digital currencies that our clients express interest in, and lumens are a natural next addition. The Stellar network offers BitGo clients access to a public financial structure for cross-border transfers, making XLM an important new asset for investors,”

said Ben Chan, CTO of BitGo.

The CEO of BitGo, Mike Belsche, has the opinion that their network serves its users with this unique payments system. The network’s infrastructure permits cross-asset transfers of value which includes cross-border payments and brings to its clients an instant clear, execution, and settlement platform.

Jed McCaleb, co-founder of the Stellar Development Foundation revealed that

“as the leading institutional custodian service and business wallet in the market, BitGo provides a broad range of options for anyone interested in holding lumens. BitGo broadens institutional client exposure to Stellar by making it significantly easier and more secure to hold XLM.”

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