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  • Coins 2,227
  • Markets 16,811
  • Market Cap 177,312,501,947
  • 24h CMC 2,029,798,974.85
  • 24h Vol 22,636,789,514
  • Dominance BTC 53.50 % | ETH 10.21 % | XRP 7.64 % | 
LGO+Markets+granted+Custody+and+Mu-sig+Wallets+by+BitGo

LGO Markets granted Custody and Mu-sig Wallets by BitGo

 

LGO Markets, which is focused on institutional investors, will offer BitGo services for hedge funds, family offices and asset managers that are working with BitGo. Furthermore, the clients of LGO markets can now store their digital assets in BitGo Trust Company. The company is regulated by the Division of Banking in the United States state of South Dakota.

BitGo will further lend support to the company’s Ethereum (ETH)- based native token LGO Exchange (LGO). Per Mike Belshe, CEO of BitGo the new synergy will bolster the growth of decentralized markets, where exchanges will not act as their own custodians. It will also allow investors to trade in a much more secure manner. 

These findings are in lines with an earlier document published by digital asset management fund Grayscale Investments. Per the document institutional investors are responsible for around 66% of capital inflow in the crypto industry.

In other custody, newsFrench hardware wallet producer Ledger partnered with Hong Kong trust company Legacy Trust. The partnership was established to offer cryptocurrency custody services to its institutional clients. 

In another news reported by CoinMarketFeed Bitgo, offered $100 million in insurance coverage for cold-wallet assets. The insurance is being said to provide substantial coverage for assets held by BitGo.BitGo Business Wallet clients will be able to purchase theft insurance and Lost Key Cover, a key recovery service, for their assets through Digital Asset Services, an insurance provider overseen by the Financial Conduct Authority, the UK financial services regulator.

About BitGo

BitGo is the market leader in digital asset financial services, providing institutional investors with security, compliance, custodial, and liquidity solutions.BitGos 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, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.

BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company supports over 100 coins and tokens and has over $2 billion in assets in the wallet.

About LGO Markets

LGO Markets offers a non-custodial, secure and transparent trading platform for digital assets made for institutional investors. While trading on LGO, clients control their funds which are held with banks and custodians, and all trades are cleared through third-party clearing firms. Using blockchain technology, the platform guarantees the full transparency of the trades and the order book.