BitGo Trust to Provide Custody and Cold Storage Services for Institutional Assets
It is reported that BitGo Trust, a cryptocurrency custody company, will provide qualified custody and cold storage services for assets held by institutional clients representing Ge
It is reported that BitGo Trust, a cryptocurrency custody company, will provide qualified custody and cold storage services for assets held by institutional clients representing Genesis. BitGo provides $250 million in insurance and holds SOC 1 Type 2 and SOC 2 Type 2 certifications, as well as compliance tools to measure the risks associated with technology solutions.
Genesis collaborates with BitGo Trust to develop agency hosted products
Institutional investors have increasingly turned towards cryptocurrencies as a viable investment option, leading to the need for secure and reliable custody solutions. BitGo Trust, a leading provider of cryptocurrency custody and security solutions, has announced that it will provide qualified custody and cold storage services for institutional assets held by Genesis.
Understanding BitGo Trust
BitGo Trust is a subsidiary of BitGo Inc, a digital asset trust company founded in 2013. BitGo began providing multi-signature security solutions for Bitcoin in 2013, and has since expanded to supporting a wide range of cryptocurrencies. BitGo Trust is a qualified custodian under US law, and is designed specifically to meet the needs of institutional investors. The company is registered with the United States Securities and Exchange Commission (SEC) and is subject to regular audits to ensure compliance with industry standards.
Genesis and Cryptocurrency Investment
Genesis is a leading digital asset trading firm founded in 2013. The company offers institutional-grade trading services for a wide range of cryptocurrencies, as well as investment services and research. Genesis has established itself as a trusted partner for institutional investors looking to enter the cryptocurrency market.
BitGo Trust and Custody Solutions
BitGo Trust’s custody and cold storage solutions are designed to provide secure and reliable storage for institutional assets. The company’s solutions are SOC 1 Type 2 and SOC 2 Type 2 certified, meaning that they have undergone rigorous third-party audits to ensure their safety and reliability. BitGo Trust also provides $250 million in insurance coverage for its customers, further adding to the security of its solutions.
Compliance Tools
Compliance is a crucial consideration for institutional investors looking to enter the cryptocurrency market. BitGo Trust provides a range of compliance tools to measure the risks associated with technology solutions. The company’s compliance tools are designed to help institutional investors understand the risks associated with the digital assets they invest in, and to help them make informed decisions about their investments.
Conclusion
BitGo Trust’s announcement of qualified custody and cold storage solutions for Genesis is a significant step towards the adoption of cryptocurrencies by institutional investors. The company’s reputation for security and reliability, combined with its compliance tools and insurance coverage, make it an ideal partner for institutional investors looking to enter the cryptocurrency market.
FAQs
1. What is BitGo Trust?
BitGo Trust is a subsidiary of BitGo Inc, a digital asset trust company founded in 2013 that provides cryptocurrency custody and security solutions.
2. What is Genesis?
Genesis is a leading digital asset trading firm founded in 2013 that offers institutional-grade trading services for a wide range of cryptocurrencies
3. Why is compliance important for institutional investors in the cryptocurrency market?
Compliance is important for institutional investors in the cryptocurrency market to ensure that they understand the risks associated with the digital assets they invest in and to help them make informed decisions about their investments.
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