Bitstamp expands partnership with BitGo to provide custody for crypto assets


  • BitGo Custody will be storing BitStamp’s assets on a 100% cold storage technology in bank-grade Class III vaults.
  • BitGo’s $100m insurance policy will further secure the vaults.

As per Cointelegraph, BitGo, the digital asset financial services firm, will be expanding its partnership with Bitstamp to include custodianship of digital assets. BitStamp is the world’s longest-standing crypto exchange while BitGo developed the world’s first institutional-grade, multi-signature hot wallet. 

David Osojnik, Bitstamp CTO, was generous with his praise for BitGo saying:

“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 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.”

Mike Belshe, BitGo CEO, said:

"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. 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.”

BitGo Custody will be storing BitStamp’s assets on a 100% cold storage technology in bank-grade Class III vaults. These will be protected by BitGo’s $100 million (USD) insurance policy.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: What next as BTC/USD tests $8,600?

Bitcoin price has continued to face increasing selling activity. The weekend session was not different as seller domination continued. BTC/USD extended the bearish leg further below $9,000 to the extent of testing support at $8,600. 

More Bitcoin News

ETH/USD recovery sabotaged above $200 as consolidation sets in

Ethereum recovers slightly to settle above $200 following a dip to $190 support. ETH/USD could entertain a sideways price action in the near term according to both the RSI and the MACD.

More Ethereum News

XRP/USD bulls looking forward to a falling triangle breakout, all eyes on $0.21

Ripple price bounces off last week’s support at $0.19 but recovery stalls under $0.1950. XRP/USD is grinding towards a possible falling triangle breakout, targeting $0.21.

More Ripple News

Cryptocurrencies may weaken US dollar dominance

The adoption of digital currencies may undermine the leading positions of the US dollar in the global financial system, according to JPMorgan analysts. The US risks losing its dominant position in the global financial system.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

BTC

ETH

XRP