BitGo
BitGo provides digital asset custody, wallet technology and related infrastructure for institutions. The services support holding assets, controlling transaction approvals and connecting custody to trading and settlement. Crypto custody involves managing the private keys that authorize transfers of digital assets.
Exchanges, asset managers, banks and companies need these functions to manage private keys and authorize asset movements within their operational rules. BitGo offers managed custody as well as wallet technology for customers that retain their own custody arrangements. The choice determines who controls the assets and which responsibilities remain with the customer.
Stablecoins and settlement at BitGo
Money movement products from BitGo include Stablecoin-as-a-Service, which lets an institution issue its own stablecoin with BitGo holding the reserves, and the Go Network, the BitGo network for settlement between clients and trading venues while the assets stay in custody. BitGo Mint handles stablecoin issuance and redemption for institutions. Stablecoin settlement explains how such tokens settle trades and payments between banks and companies.
How BitGo holds client assets
BitGo runs several regulated trust companies; according to BitGo, custodied funds are structured to remain outside the custodian's balance sheet, keys are stored offline in cold storage, and transactions need two of three keys under its 2-of-3 multi-signature setup. The first of these trust companies was approved by the South Dakota Division of Banking as a qualified custodian for digital assets, Bitcoin Magazine reported, and BitGo had its controls audited for the SOC 2 Type 2 report, as GARP described. BitGo Bank & Trust is a national trust bank chartered by the US Office of the Comptroller of the Currency, and BitGo is listed on the New York Stock Exchange. Assets in its custody passed 100 billion US dollars, about half of them tied to staking, Bloomberg reported.
BitGo Europe in Frankfurt
BitGo Europe GmbH is the European headquarters of BitGo in Frankfurt. BaFin granted it a MiCA license to provide digital asset services in the EU, and BitGo names crypto-native firms, banks and investment managers as its clients there. BitGo Europe then launched crypto-as-a-service across the EEA for EU fintechs and banks. One user is the bitcoin app 21bitcoin, whose customers choose between custody at BitGo Europe and transfers to their own wallet, among the bitcoin wallets available in Germany. Crypto as a service explains what a bank keeps and what the provider runs.
Upcoming digital asset and custody events
BitGo at Finance Loop events
BitGo is a partner of Capital & Code in Frankfurt, where Finance Loop is media partner and Dr. Ming Schuhmacher of Deutsche Bank discusses custody and new payment rails for stablecoins with BitGo and Hercle. BitGo is also a member of the Digital Euro Association, a partner of Finance Loop.
Investment & Digital Assets
Payments & Digital Money
Risk & Compliance
How does BitGo secure keys?
BitGo uses a 2-of-3 multi-signature setup, so a transaction needs two of three keys, and stores keys offline in cold storage.
What is the Go Network?
The Go Network is the settlement network from BitGo, where clients settle trades with trading venues and with each other while their assets stay in BitGo custody.
Custody and settlement
Custody technology firms
BitGo and Finance Loop
Finance Loop is media partner of Capital & Code, where BitGo is a partner and custody and stablecoin payment rails are on stage. Custody belongs to the Investment & Digital Assets track at Finance Loop, stablecoin settlement to Payments & Digital Money.
Finance Loop is a professional network supporting the institutional use of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.