- While BitGo has focused on serving institutional customers since 2013, it is now expanding its approach.
- In September, BitGo signaled its intention to launch a stablecoin tied to the US dollar.
After more than a decade of serving large institutions with digital asset services, BitGo is branching out to the retail market. A worldwide version of BitGo’s digital assets solutions for retail investors, comprising trading, staking, and wallet services, comparable to cryptocurrency exchange platforms, will be launched on December 2, according to a statement. Cold storage and self-storage are two further ways that users may take use of BitGo’s regulated custody.
Among BitGo’s purported 1,500 customers in over 50 countries are 150 cryptocurrency exchanges and brands like Nike. The company is headquartered in California. Several new entrants have joined the digital asset market in the last few months, increasing competition for institutional customers.
Filling the Gap
Their goal is to match the expectations of these investors. While BitGo has focused on serving institutional customers since 2013, it is now expanding its approach to get into retail consumers as well.
Concerns about the dependability of exchanges and an absence of solid custody solutions are common problems in the retail cryptocurrency sector. According to a representative, BitGo plans to fill this gap by offering secure custody services.
The business has not revealed which nations or currencies its crypto trading and off-exchange settlement services are accessible in, but rumor has it that it has teamed up with a number of financial institutions.
In September, BitGo signaled its intention to launch a stablecoin tied to the US dollar, marking yet another diversification effort. BitGo has also announced their intentions to provide a regulated platform to manage native tokens for Web3 protocols and provide custody for them.
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