Blockchain Security Company BitGo Adds Support for 57 ERC-20 Tokens
Cryptovest
Published Jul 11, 2018 01:50AM ET
Updated Jul 11, 2018 02:00AM ET
Blockchain Security Company BitGo Adds Support for 57 ERC-20 Tokens
Blockchain security company BitGo announced on Tuesday it has expanded its custody services, adding support for 57 new ERC-20 assets.
The list includes several native tokens for decentralized cryptocurrency exchanges. Among the additions are also Kin (KIN), the crypto coin of chat messaging app Kik, Civic (CVC), a token tied to a system of blockchain-based identity service, and Dent (DENT), which was recently listed on one of the world's leading cryptocurrency exchanges, Binance.
Reportedly, all of the cryptocurrencies added by BitGo have been requested by institutional investors amid growing demand for crypto-custody services.
“Our institutional clients want to hold a basket of digital assets, perhaps 20 or more, to provide better absolute and risk adjusted returns. Investing in Bitcoin, Ethereum, and Ripple is not enough diversification in a volatile, bear market and clients depend on us to provide the security for these assets,” Robin Verderosa, the head of product marketing at BitGO said in a blog post.
The company’s expanded ERC-20 coverage follows its April release of 13 Ethereum assets. The total number of supported tokens is set to reach 100 by the end of the year, BitGo revealed. Regarding the company’s future plans, Verderosa further indicated in an interview on Wednesday that BitGo is looking to obtain a BitLicense in New York and a qualified custodian license in South Dakota.
Founded in 2013, BitGo operates a Bitcoin security-as-a-service platform rooted in its innovative multi-signature technology, which is used as support for its product offering by sharing keys between the user and themselves. The platform also facilitates secure, multi-party transactions to marketplaces, exchanges and e-commerce players. Currently, BitGo’s service is limited to larger protocols like Bitcoin and Ethereum.
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.