Cryptocurrency custodian and security firm BitGo has entered into a partnership with over-the-counter (OTC) crypto trading firm Genesis Global Trading to enable clients to trade digital assets directly from BitGo custody.
The partnership will enable clients to maintain assets in custody with BitGo Trust Company – a regulated, qualified custodian purpose-built for digital assets announced in September 2018.
BitGo said that it has developed a seamless integration to easily connect trading platforms with its cold storage custody solution. It will enable clients to easily execute buy and sell orders without having to manage keys or move their assets from the cold storage.
In addition, clients will be able to access Genesis’ deep liquidity through a robust network of trading partners with same day settlement directly through a BitGo Trust account.
"Some custodians are choosing to sacrifice security and safety by enabling fast withdrawals from cold-storage which makes their clients more susceptible to hacking, false instructions, and theft,” said Mike Belshe, CEO, BitGo. “Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to liquidity through Genesis’ robust network of trading partners. And that solves the real problem which is the need to access liquidity - not the need to speed up withdrawals.”
Cryptocurrencies available through Genesis include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic, (ETC), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC).
“BitGo has been a terrific, long-term partner to Genesis and we have a lot of confidence in their institutional offerings,” said Michael Moro, CEO, Genesis. “We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition.”
Comment 20