Digital asset financial services firm BitGo has announced that it will provide institutional-grade custody and wallets for Tron (TRX) starting on Nov. 8. According to the official announcement published on Oct. 14, BitGo has been working closely with Tron “to develop the first TRX institutional-grade wallet and custody offerings that provide on-chain, multi-sig security.” The post reads: “TRON came to us because of our reputation for delivering secure and compliant solutions designed for institutional investors. [...] Multi-sig has been openly reviewed and tested by the security community. It works with a multitude of open source tools and we are very …

Digital asset financial services firm BitGo will provide secure storage for crypto assets under management at major cryptocurrency exchange Bitstamp. $100 million insurance policy In a news release on Oct. 9, the Luxembourg-based cryptocurrency exchange announced that BitGo will offer custodianship of its digital assets. The Bitcoin (BTC) exchange will start transferring assets to BitGo’s wallets on Oct. 10, 2019. Bitstamp chief technology officer David Osojnik said: “BitGo has been one of our most trusted partners for many years and this is a natural extension of our relationship. Their exclusive focus on institutional services has allowed them to develop the …

Digital asset financial services firm BitGo has launched a new staking service for the clients who store their assets with its qualified custodian subsidiary BitGo Trust. A press release published on Oct. 3 revealed that the new service will initially launch with altcoins Dash (DASH) and Algorand (ALGO), with more assets to be supported in the future. Staking vs. mining Staking is specific to proof-of-stake (PoS) blockchains and essentially allows network participants to earn a form of “interest” by depositing their tokens to both maintain the network and potentially earn rewards. As opposed to proof-of-work blockchains like Bitcoin, nodes in …

Cryptocurrency custody providers seem to be springing up all over the global digital landscape in 2019, and the crypto platform Coinbase emerging as the leader in the sector. At their very core, custody platforms are designed to serve as independent storage/security units that are aimed primarily at institutional investors. These solutions, more often than not, tend to make use of a combination of various hot and cold storage technologies. Also, while cryptocurrency exchanges and regular wallet systems conventionally utilize private keys (and other such security protocols) to protect an individual’s holdings, these alphanumeric phrases can be quite difficult to remember …

Cryptocurrency trust and security company BitGo has announced the launch of a multisignature wallet and custody service for EOS. According to the news release published on Aug. 22, BitGo officially added EOS to the list of its supported assets. The firm’s chief technology officer Ben Chan said: “The EOSIO software has some innovative differentiators like its high transaction capacity and fee model that required our engineering team to scale our platform. We were able to successfully create an experience for EOS users that is seamless and consistent with how we support other coins and tokens.” More than 200 cryptos supported …

Digital asset trust and security company BitGo has appointed wallet provider Xapo’s former senior vice-president Pete Najarian as its new chief revenue officer (CRO). As finance-focused media outlet Finance Magnates reported on Aug. 19, Najarian will now serve as BitGo’s CRO, reporting to the company’s chief executive officer Mike Belshe. Commenting on the appointment, Belshe said: “Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building the financial infrastructure of the future and Pete’s experience in …

Decentralized identity startup Civic and blockchain security firm BitGo plan to launch a new wallet using BitGo’s multisig technology in Q4 2019. In a press release shared with Cointelegraph on July 23, the two firms revealed that the forthcoming Civic Wallet will host hold both cryptocurrency and identity data on mobile devices. Control and security over funds and personal data In the press release, Vinny Lingham, co-founder and CEO of Civic said that “we’re building a new financial and identity ecosystem.” Lingham further expressed enthusiasm for lowering the barrier to entry into the blockchain sphere for consumers. Using BitGo’s multisig …

Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he has fallen victim to a SIM swapping hack in a Medium post published on May 20. According to the post, Coonce had over $100,000 siphoned out of his account on cryptocurrency exchange Coinbase in under 24 hours. In his post, Coone details SIM swapping, a practice that sees the attacker maliciously requesting a telecommunications carrier to redirect the traffic of a mobile phone number to a device over which they have control. This device is then used to obtain two-factor-authentication (2FA) codes which grant control over the victim’s online …

Digital asset finance firm BitGo announced the launch of its off-chain clearance and settlement service in a press release published on May 14. Per the announcement, the service will be available to clients of qualified custodian BitGo Trust Company, and assets are not moved from custody while reportedly allowing fast, compliant and secure settlement. The company explains that — since the funds never leave the custodian’s wallet — this method eliminates counterparty risk: “Until now, in a digital asset trade, one party needed to assume all of the risk and act on the counterparty’s good faith, and this doesn’t really …

Blockchain security and cryptocurrency custody firm BitGo has appointed a veteran Wall Street trader as its head of financial services, according to a press release published on May 9. The new hire, Nick Carmi, joins BitGo after a reported 25 years of experience as a financial executive. His most recent role was as Global Head of FICC Business at the high-frequency trading firm Tower Research Capital — founded by former Credit Suisse proprietary trader Mark Gorton. According to a statement from BitGo CEO Mike Belshe, the hire was spurred by an intent to forge a stronger connection between technologically innovative …

Blockchain security firm BitGo has gained a further security certification from an external auditor after a review of its compliance, cryptocurrency industry news resource The Block reported on April 23. BitGo, which last year gained a service organization control (SOC) 2 Type 1 certification from Deloitte, has now upped its procedures to conform to the Type 2 requirements of the same standard. SOC 2 is a universal reporting framework, and Type 2 is known as “Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy.” This January, cryptocurrency exchange Gemini announced that it had completed an …

94% of endowments have been allocating to crypto-related investments throughout 2018, a new survey published on April 12 reveals. The study was conducted in Q4 2018 by trade publications Global Custodian and The Trade Crypto, in partnership with blockchain security firm BitGo. Out of 150 surveyed endowments, 89% of the respondents were reportedly based in the United States, with the rest either in the United Kingdom or Canada. The survey indicated that despite widely-reported concerns around regulation, custody and liquidity, endowments will continue to allocate investments to the new asset class — with only 7% of respondents saying they anticipated …