Cryptocurrency custodian and security firm BitGo to add support for TRON currency

Decentralized internet protocol TRON has announced that BitGo will provide wallet and custody support for its TRX token later this year.

BitGo provides security, compliance, custodial, and liquidity services for institutional investors. TRON cryptocurrency joins Bitcoin, Ethereum and more than 100 other cryptocurrencies.

Justin Sun, founder of TRON and CEO of BitTorrent, said that the partnership with BitGo will let institutional investors trade TRX with confidence.

"As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options,” Sun said.

TRX is currently the ninth most popular cryptocurrency by market cap, according to CoinMarketCap.

Ben Chan, chief technology officer at BitGo, said that adding TRX support is an “important step” towards catering institutional investors who want a wallet provider and custodian who can support a full range of digital assets

"BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people's assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX,” he said.