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BitGo Releases BTC Custodial Services Aimed at Institutional Investors

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As larger, institutional investors step up their interest in crypto, BitGo is looking to reel them in with its new range of custodial products, specially designed for Bitcoin and its larger investors. Not only is this a move to corner a potentially massive market, but it is also part of BitGo’s strategic development, as it looks to present itself as a company that can satisfy clients both large and small.

We’re definitely seeing a lot of bigger names interested in digital currencies. But there are other customers like smaller hedge funds, they just don’t want to have to hold custody themselves. They’re looking to have the security and compliance and storage solutions that they can outsource to, and that’s what BitGo is really delivering.

– Tracy Olson, Head of Product, BitGo

Three Choices for Investors

Institutional investors will be offered three types of custodial service.

  1. International Custody – Managed custody in wallets, whether online or offline, around the world
  2. Self-Managed Custody – The institution retains full control while BitGo handles the rest
  3. Qualified Custody – This is the only service that BitGo won’t be able to roll out immediately, as it relies on their acquisition of Kingdom Trust, which is still waiting regulatory approval (the move was announced in January 2018).

Multiple Cryptos, but Room for Growth

Bitcoin is not the only product for which BitGo offer a custodial service, although it is the one that will interest the larger investors. Currently, they offer their services to over 20 different cryptocurrencies, but are looking to increase this amount depending on popularity. And with Goldman Sachs gearing up gearing up to launch their trading desk, it could be all systems go for BitGo.

Image Credit: Deposit Photos

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