Palo Alto-based crypto custody startup BitGo announced Wednesday that it has partnered with Genesis Global Trading, an OTC digital currency trading firm, to allow clients to buy and sell digital assets directly from the security of their BitGo Trust cold storage account.
On the BitGo blog today: “Partnering with @GenesisTrading underscores our commitment to developing institutional-grade cryptocurrency infrastructure and represents the first of many trading integration partnerships.” https://t.co/OttVxKoq06 #digitalcurrencies #custody
— BitGo (@BitGo) January 16, 2019
According to the announcement, the new functionality means that investors no longer need to remove funds from cold storage, allowing them to securely and safely exchange from their BitGo accounts without having to manage keys.
This is a substantial value-add in terms of security, especially as major centralized exchanges continue to suffer from hacks.
“Our partnership with Genesis, a FINRA and SEC regulated company, characterizes a new institutional approach to custody where liquidity, security, and compliance are not compromised,” BitGo said in the announcement. “BitGo’s seamless integration platform is a one-of-a-kind, full-scale solution that delivers critical infrastructure to investors and large volume traders, complete with a smooth user interface that makes it easy to buy and sell digital currencies.”
BitGo now supports more than 100 different cryptocurrencies and tokens, including multiple major stablecoins while the digital assets now available on Genesis include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic, (ETC), Litecoin (LTC), Ripple (XRP) and Zcash (ZEC).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.