Popular Crypto Custodian BitGo To Hire New Team Members; Expanding Presence In Japanese Market

    As many of our regular readers may recall, last month it came to light that 30 Japan-based crypto business operators had failed to declare their altcoin-profits because of the high tax rates that the Japanese government currently imposes on these types of income streams.

    • BitGo is currently in the process of hiring a dedicated sales team and managerial staff to look after the company’s affairs in Japan.
    • In July, the company announced its intentions to launch a new multi-sig wallet solution by the end of the year.

    As per an all new report released by The Block late yesterday afternoon, BItGo — one of the world’s largest digital asset trust and security firms — is looking to make its way into the Japanese market in a big way. According to a source closely associated with the development, the firm is in the process of creating a new Japanese division — primarily by hiring a new sales team as well as a new sales director.

    A job listing posted by BitGo’s executive brass last week shows us that the newly appointed sales director will be responsible for managing the company’s “digital wallet and offline vault solutions” all across Japan.

    Earlier this year in May, the digital asset trust hired Nick Carmi — a long-time Wall Street trader — as its head of financial services. By hiring a veteran like Carmi, BitGo was reportedly looking to bridge the gap that currently exists between the digital asset market and the conventional financial sphere.

    Late last month, BitGo announced its plans to launch a new multisig wallet (in conjunction with Civic) by the end of 2019.

    The wallet will reportedly make use of various blockchain-based identity authentication protocols. Not only that, it will not allow the wallet’s intrinsic data to be shared between multiple parties under any circumstances.

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    Shiraz J
    Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

    [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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