Blockchain software firm BitGo has expanded its suite and custody products and services to support a total of 57 new ethereum assets, according to CoinDesk. The media outlet reported that the addition of the assets was done due to the demand for services that safeguard private keys. Founded in 2013, BitGo provides digital wallets, offline vaults, single integration APIs and private blockchains to world’s largest cryptocurrency exchanges and financial enterprises conducting over $12 billion in monthly transactions.
“BitGo is a blockchain software company that secures digital currency for institutional investors. Its technology solves the most difficult security, compliance and custodial problems associated with blockchain-based currencies, enabling the integration of digital currency into the global financial system. BitGo’s customers, which include the world’s largest cryptocurrency exchanges and financial institutions, conduct more than $10 billion in transactions monthly.”
BitGo also reported that it supports popular coins, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Bitcoin Gold, RMG, and ERC20 tokens, with many more coming. The company is led by CEO/Co-Founder Mike Belshe, creator of the world’s first multisig protocols for Bitcoin, and author of SPDY, and CTO Benedict Chan, creator of the world’s first Ethereum multisig web wallet. Last year, BitGo raised $42.5 million through its Series B financing round, which was led by Valor Equity Partners with participation from David Sacks, Bill Lee, and DRW.
Along with adding the additional ethereum, Vice President of Product Marketing, Robin Verderosa, shared with CoinDesk that BitGo is now planning to obtain a BitLicense in New York and a qualified custodian license in South Dakota.