Digital Asset Firm BitGo to Support swETH and rswETH, the Liquid Staking and Restaking Tokens for Swell

BitGo has announced support for swETH and rswETH, the liquid staking and liquid restaking tokens for Swell, respectively.

Clients can now custody both in Hot, Custodial, and Self-Managed Cold wallets.

As explained in a blog post by BitGo, Swell is “a decentralized finance (DeFi) platform that specializes in liquid staking and liquid restaking.”

According to Swell, it adds to “the act of staking by providing users with the ability to stake their assets and receive liquid staking tokens in return.”

These tokens can be used within “the broader DeFi ecosystem, allowing stakers to earn additional rewards while maintaining liquidity and participating in lending and borrowing.”

On the BitGo platform, builders and investors can “now use and create fast, safe, and user-friendly services for swETH and rswETH.”

As noted in the update, BitGo partners with coin foundations and protocols all over the world to help them “navigate the complexities of launching and managing their coins effectively.”

By removing operational complexity and security concerns, and deepening ecosystem support with WBTC and Layer 2 coins and tokens, BitGo says it “helps coin foundations and protocols thrive in the dynamic world of digital assets.”

BitGo, founded in 2013, is “a provider of secure digital asset wallet solutions, offering institutional-grade custody, staking, trading, and core wallet infrastructure.”

Notably, it supported the multi-signature wallet and “launched BitGo Trust Company in 2018, the first qualified custodian for digital assets.”

With a $250 million insurance policy, SOC 1 Type 2 and SOC 2 Type 2 certifications, and rigorous regulatory compliance, BitGo claims it “ensures high standards of security and confidentiality.”

Expanding its services, BitGo introduced “institutional-grade DeFi, NFT, web3 offerings, and the Go Network.”

In 2023, it secured $100M Series C financing, “valuing the company at $1.75B.”

BitGo supports 800+ digital assets, “processes 20% of on-chain Bitcoin transactions, and serves over 1,500 institutional clients across 50 countries.”

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