Maple has partnered with BitGo in order to provide clients “with qualified custody for the Maple Secured Lending Direct Pool.”
Maple explains that it “provides over-collateralized digital asset financing across a range of digital assets to institutional and high net worth clients.”
Maple Finance confirmed recently that it now utilizes BitGo’s custody services.
BitGo’s clients assets remain in “a bankruptcy remote, SOC1 and SOC2 Type 2 audited, trust company, covered by a $250mm Insurance policy covering loss, theft, or misuse.”
BitGo provides tri-party services “for loan collateral management to segregate collateral for clients.”
In another recent update shared earlier this month, it was revealed that BitGo, a digital asset custodian, and Copper, a firm focused on institutional digital asset infrastructure, announce their partnership in order “to expand their existing off-exchange settlement networks.”
This partnership between BitGo’s Go Network and Copper’s ClearLoop facilitates the global growth of institutional market participation “as well as the de-risking of trading market infrastructure.”
What this partnership will bring for international institutional clients:
The ability to trade on leading global exchanges “while assets are held within a regulated custody ring-fenced environment.”
An institutional environment for users “to participate in a new standard of digital asset infrastructure, challenging the existing model of holding assets directly on individual exchanges.”
As reported in early November, BitGo, the provider of financial services for digital assets, announces that its subsidiary in Germany, BitGo Europe GmbH, has received a crypto custody license from the German Federal Financial Supervisory Authority (BaFin).
BitGo has already been storing crypto assets “for its customers since 2019, also under BaFin supervision, as part of a transitional regime.”
The BitGo team in Frankfurt am Main has grown steadily and is “led by two managing directors in accordance with BaFin requirements.”
Sven Möhle is responsible “for the market area, Dejan Maljevic for the back office activities.”
Germany is playing an increasingly important role “in digital asset custody and regulation.”