Institutional Custody Service Provider BitGo to Support Tron (TRX)
BitGo, a digital asset custody service provider based out of Palo Alto, California, has announced that it adding support for Tron (TRX) later this year. The team at the firm made the announcement via twitter and added that the move is meant to increase the variety of digital assets available for their clients. The full tweet can be found below.
"Institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step." – BitGo CTO @bencxrhttps://t.co/UhGG3n2p6u@Tronfoundation
Justin Sun, founder of TRON and and CEO of BitTorrent, welcomed the move by BitGo and explained that institutional investors can now trade TRX knowing that their digital assets are secure.
This partnership with BitGo will let institutional investors trade TRX with the confidence. As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.
Ben Chan, Chief Technology Officer at BitGo, further explained that institutional investors want a wallet provider and custodian who can support a variety of digital assets such as TRX. He further explained BitGo’s unique role in the digital asset ecosystem.
BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people’s assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX.
More on BitGo
BitGo offers five digital asset solutions for all its institutional clients: custody services, business wallet, self-managed storage, private blockchains and APIs. Their custody solutions offer the most advanced cold storage that include KYC/AML, transaction processing and reporting. Clients who hold business wallets with the firm have the advantage of multi-signatures with three-key management. However, those who chose to have full control of their assets can procure a secure offline vault solution from the firm. When it comes to custom made blockchains, BitGo offers tailor makes solutions.
Two days ago, the firm announced that it is now offering $100 Million in Crypto Insurance through Llyod’s of London. BitGo is currently the world’s largest processor of on-chain Bitcoin transactions. The firm processes 15% of all global Bitcoin transactions and $15 Billion per month across all cryptocurrencies. The firm is backed by Craft Ventures, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
What are your thoughts on BitGo announcing plans to support TRX for its institutional investors later this year? Does the future look bright for TRX? Please let us know in the comment section below.
[Feature image courtesy of BitGo.com]
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