BitGo launched a new billing system for institucionales

The custodian solutions provider BitGo announced the launch of a new clearing system for institutional investors. It is reported by CoinDesk.

The new service will be provided to customers BitGo Trust Company. It guarantees that the assets will not leave the vault during transmission, while the actual calculations are «fast, compatible and secure.»

In the course of transactions BitGo will act as custodian for both parties that, according to the company, reduce the risk of the contractor, they could encounter clients.

In addition, the new service should provide greater security, reduce regulatory risks, and enable investors to more efficiently allocate capital.

In this case the transfer is recorded between two different companies, but traded assets should always be stored in cold storage. The transaction will be scheduled outside the network, and after the withdrawal operations will consult with the appropriate bloccano.

As stated by the CEO of BitGo, Mike Belch, the service is aimed at institutional customers.

«Still in the trade of digital assets, one party had to assume all the risk and act, relying on the good faith of the counterparty and is not working with institutional investors. We bring to the market risk-free, efficient and compliant clearing and settlement of digital assets, and possible this service makes reliable client base BitGo Trust».

With the new service, BitGo hopes to attract participants in OTC trading operations, investment banks, stock exchanges, asset managers and broker-dealers. To use the new service, all parties to the transaction must keep its assets in BitGo.

«As a result of interaction with one custodian participants can choose with which partners to carry out calculations and check trade restrictions before the implementation of the transaction,» the company said.

We will remind, in the beginning of the year BitGo announced the partnership with OTC service Genesis Global Trading, in which institutional investors will have access to high frequency trading cryptocurrencies.


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