BitGo will provide secure storage for digital assets under management at Bitstamp
NEW YORK, Oct. 09, 2019 (GLOBE NEWSWIRE) — Bitstamp, the world’s longest-standing cryptocurrency exchange and Europe’s largest by trade volume, today announced that it will expand its partnership with BitGo to include custodianship of digital assets. The exchange will begin transferring assets to BitGo’s wallets on 10 October 2019.
“BitGo has been one of our most trusted partners for many years and this is a natural extension of our relationship,” said David Osojnik, Bitstamp CTO. “Their exclusive focus on institutional services has allowed them to develop the tech and processes necessary for running a robust and compliant cryptocurrency exchange. But, more than that, they have proven to be a great partner, committed to our mutual success as well as the further development of our industry.”
BitGo, the leader in digital asset financial services, is one of the pioneers of the crypto industry known for developing the world’s first institutional-grade, multi-signature hot wallet. With BitGo Custody, Bitstamp’s assets will be secured on 100% cold storage technology in bank-grade class III vaults and protected by BitGo’s $100 million (USD) insurance policy.
“Bitstamp is one of the most highly-regarded exchanges in the world and they chose BitGo Custody because we understand what they need to run their business,” said Mike Belshe, CEO, BitGo. “Institutions need a lot more than an app with pretty charts. They need proper security, which includes technology, people, and processes, and they need exceptional client service. We’re proud to have earned Bitstamp’s trust and their business.”
Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously supporting the crypto economy since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent trading venue to over four million individuals and enables a range of institutional partners to enter crypto markets through their time-proven infrastructure. Whether it’s through their intuitive web and mobile apps or arsenal of industry-leading APIs, Bitstamp is where crypto enters the world of finance.
For more information, visit bitstamp.net
BitGo is the leader in digital asset financial services, providing institutional investors with security, custody, and liquidity solutions. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $20 billion per month across all cryptocurrencies. The company supports over 200 coins and tokens, and has over $2 billion in assets in wallet and custody. BitGo’s customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
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