A blockchain security company, BitGo have launched cryptocurrency insurance in collaboration with the Lloyd’s of London. In the press release they mentioned, “BitGo Business Wallet clients will be able to purchase theft insurance and Lost Key Cover, a key recovery service, for their assets through Digital Asset Services, an insurance provider overseen by the Financial Conduct Authority.”
The chief executive officer of BitGo, Mike Belshe has confirmed that its platform now supports two new coins called Dash (DASH), and Stellar Lumens (XLM). The CEO of Bitgo emphasized that the company is fully dedicated to protecting custodian services and said, “Exchanges sometimes offer custodianship, but they’re not qualified custodians themselves. They’re holding funds so that you’ll use their exchange.”
The BitGo wallet service provider has added Dash and Stellar to its platform. The Dash has also declared the association with BitGo through its Twitter handle. The BitGo wallet already extends support to 85+ digital assets and cryptocurrencies. The wallet also provides ‘multi-signature wallet’ that is recognized as an institutional-grade security wallet.
The South Dakota Division of Banking has approved BitGo as a qualified custodian for digital assets. CEO of BitGo, Mike Belshe said, “Exchanges that double as custodians present a conflict of interest and raise regulatory concerns. BitGo Trust Company is a qualified custodian, and therefore the only custody offering that delivers the highest levels of both security and regulatory compliance.”
BitGo, a crypto investment service provider, has unveiled Predictive UTXO (Unspent Transaction Output) Management for the benefit of institutional investors. It is an algorithmic solution. It is reported that the Predictive UTXO Management lessens the cost by minimizing transaction sizes at high fee rates. Ideally, the wallet account with more balances would save more and vice versa.
BitGo declared the addition of Zcash to its platform. The Zcash engineer claimed that their company and BitGo would work together for safe integration of Zcash on the BitGo’s platform. The chief technology officer of BitGo stated, “As one of the world’s most valuable and technologically demanding digital currencies, Zcash is an important new asset for our institutional investors.”
BitGo, a cryptocurrency firm aiming to develop its own in-house asset custodian, has recruited Josh Schwartz as the vice president of sales. Josh had been Bloomberg Tradebook executive in the past. It is reported that Josh possesses sixteen years of experience in financial services. The hiring is expected to benefit the company in custodial services.