BitGo, a digital asset financial services provider, recently announced it has hit $16 billion in digital assets under custody (AUC) milestone. Founded in 2013, BitGo describes itself as the leader in digital asset financial services, providing institutional investors and crypto platforms with liquidity, custody, and security.
“At BitGo, we believe digital assets will drive the global financial system. Our clients choose BitGo because they need services and solutions they can trust. BitGo’s solution is built on top of the strongest technological foundation in the industry, allowing BitGo to provide clients with an integrated solution for digital assets that mitigates risk and optimizes capital efficiency.”
In 2018, BitGo launched BitGo Trust Company, which BitGo claims to be the first qualified custodian purpose-built for storing digital assets, leveraging the technology of the first platform to receive SOC 2 Type 2 compliance in the industry. BitGo is currently trusted by over 400 clients spanning 50 countries. Mike Belshe, CEO of BitGo, spoke about the milestone by stating:
“BitGo set out to deliver trust and pave the way for mainstream investment in digital assets. We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance. BitGo has met the moment with our proven track record in security, service and products, and we are well positioned to help institutions navigate the complex landscape of digital assets into the future.”
BitGo’s investors include Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.