BitGo Announces Launch of Digital Asset Lending Services

Blockchain software firm BitGo announced on Thursday it is now offering institutional digital asset lending services. According to BitGo, the lending service was built by a Wall Street team that “understands institutional investing and clients’ needs.” The launch also follows a several-month private beta.

Mike Belshe, CEO of BitGo, spoke about the service by stating the following:

“BitGo has built a reputation for leading the industry in innovation, security, and client service, and we are now extending that expertise to BitGo Lending. With our lending service, we are melding the best of Wall Street’s sophisticated understanding of how to work with institutional investors, and the best of Silicon Valley’s technology and innovation.”

Nick Carmi, Head of Financial Services of BitGo, further observed:

“Our goal was to build a lending business that is similar to lending businesses in the traditional financial markets. We are not interested in a high-volume, low-margin business; we are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”

Benefits of BitGo’s Lending Offering:

Service

  • Trusted partner relationships provide clients with best-in-class service
  • Fast execution means that clients are able to capitalize on market opportunities
  • Thorough due diligence mitigates risk for all parties

Solution

  • Exclusive relationships give borrowers access to unique assets
  • Loans are fully collateralized
  • No rehypothecation because collateral is segregated from lending inventory
  • Detailed reporting is customized for each client

Security

  • Access to best-in-class custody
  • Ability to work with regulated custodian BitGo Trust
  • BitGo platform is SOC 2 Type 2 certified
Sponsored Links by DQ Promote


Send this to a friend