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Breaking News! U. S. Approves Crypto Custody Service For Bitcoin And Others

Discussion in 'Cryptocurrency News (HAPPENING!)' started by philipj, Sep 14, 2018.

  1. philipj

    philipj GrandMaster Crypto Guardian

    BitGo, a pioneer of multi-signature technology, today announced that BitGo Trust Company gained US approval as a regulated, qualified custodian of cryptocurrencies for institutional investors.

    The company’s BitGo Custody solution was approved by South Dakota regulators at the Division of Banking, charged with the regulation and supervision of state chartered and licensed financial institutions, “to maintain stability and public confidence in state chartered institutions and to protect public interests.”

    The Palo Alto-based company, which offers enterprise-grade Bitcoin wallet solutions, as well as API access to its underlying security platform, introduced the industry’s first multi-sig hot wallet in 2013.

    BitGo CEO Mike Belshe, a Silicon Valley veteran who served on the founding team of Google Chrome, says, “Custody has been the missing piece of cryptocurrency market infrastructure, and this gap has kept institutional investors out of the market.”

    The approval will allow broker dealers to enter the cryptocurrency market with security.

    As a qualified custodian that is neither a bank nor an exchange, BitGo has emerged as a critical bridge for the digital economy.
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