BitGo hits a new milestone further validating institutional investor interest in cryptocurrency and Bitcoin hits an all time high.
BitGo, the leader in digital asset financial services, has reached $16 billion in digital assets under custody (AUC). As institutional interest in cryptocurrencies continues to surge, top investors are seeking institutional-grade security and financial infrastructure for custody, trading and lending of their digital assets.
BitGo reaches an important milestone with $16 billion in digital assets under custody (AUC). investors are seeking institutional-grade security and financial infrastructure for custody, trading and lending of their digital assets.
BitGo’s commitment to serving institutional investors’ digital asset requirements started in 2013 with the launch of BitGo’s multi-signature wallets, and since then has expanded into a comprehensive suite of institutional-grade tools to trade, borrow, lend, and securely store digital assets. In 2018, BitGo launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets, leveraging the technology of the first platform to receive SOC 2 Type 2 compliance in the industry. BitGo is also the largest processor of on-chain Bitcoin transactions, currently accounting for more than 20% of all on-chain Bitcoin transactions, processing over $15 billion in monthly transactions.
“BitGo set out to deliver trust and pave the way for mainstream investment in digital assets,” said Mike Belshe, CEO, BitGo. “We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance. BitGo has met the moment with our proven track record in security, service and products, and we are well positioned to help institutions navigate the complex landscape of digital assets into the future.”
Today, BitGo is trusted by over 400 clients spanning 50 countries. Many are the world’s top exchanges and platforms such as Bitstamp, Nexo, and Pantera. “More than ever, the need for a digital asset partner with a solid track record, like BitGo, is critical for large institutions and their clients to feel confident in their allocations to cryptocurrencies,” says, Pete Najarian, Chief Revenue Officer, BitGo.
BitGo’s investors include Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.