BitGo Announces Support For BCAP ERC-20 Token From Blockchain Capital

Blockchain software firm BitGo announced on Tuesday it is now supporting the BCAP ERC-20 token from Blockchain Capital. BitGo reported that in addition to multi-signature wallet security, its clients may custody their BCAP assets with BitGo Trust Company, which is a qualified custodian that provides compliant custody for security tokens.

According to BitGo, Blockchain Capital pioneered the BCAP in April of 2017 when they launched the world’s first ever tokenized investment fund and by extension the blockchain industry’s very first security token. The BCAP represents an indirect economic interest in the limited partnership interest in the tokenized investment fund.

“Token holders benefit from exposure to the underlying assets of the fund, which invests in the digital assets and equity securities of some of the most recognized emerging companies building blockchain and digital asset platforms. The hallmark of the BCAP token is that holders are able to trade their tokens on secondary trading platforms in a manner that is compliant with applicable securities regulations, giving holders exposure to early stage venture capital assets while also benefiting from the opportunity for liquidity in those assets.”

While sharing more details about the support, Ben Chan, Chief Technology Officer of BitGo, stated:

“Security tokens are an increasingly important asset class for institutional investors and BitGo is here to support them. As a qualified custodian, we recognize how critical compliance is for our clients and we’re pleased to be able to provide custody services that are compliant with securities regulations. This is a major step forward for mainstream adoption.”

Brad Stephens, Co-Founder and Managing Partner of Blockchain Capital, went on to add:

“We wanted to ensure that our custody solution for BCAP would be completely secure while easy to manage. When we compared custody offerings, BitGo’s solution was far ahead of the other options in both design and security, so we’re excited to partner with them.”

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