Blockchain software firm BitGo announced on Thursday its support for Algorand by providing a multi-signature wallet and custody services for the Algorand blockchain. Algorand wallets are now available via BitGo’s web interface or API.
“Algorand is an open-source software company building technical innovation for the borderless economy with a platform that delivers decentralization, scalability and security. Algorand’s first-of-its-kind, permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality needed by users to build opportunity and fulfill the promise of blockchain technology.”
While sharing more details about the wallet and custody services, Ben Chan, Chief Technology Officer at BitGo, stated:
“Algorand has some new and interesting ideas around multi-phase proof-of-stake block generation. We’ve enjoyed working with the foundation to bring multi-signature security to Algorand.”
Fangfang Chen, Head of Operations at the Algorand Foundation, added:
“We are excited to welcome BitGo to the Algorand community. By providing custodianship services with multi-sig security as well as new staking opportunities, the BitGo partnership adds even more opportunities to participate in the Algorand ecosystem.”
Algorand custody is available through either BitGo, Inc. or BitGo Trust Company, the first qualified custodian purpose-built for digital assets.