Cryptocurrency service BitGo announced the addition of support for 57 new assets on Ethereum. Taking into account the growing need for reliable solutions to protect private keys, BitGo decided to expand the offer of its custodial service, a company spokesman said in a conversation with CoinDesk.
BitGo was founded in 2013 and has become one of the leading providers of storage services for bitcoins. It works within the framework of the model “security as a service” and uses its own innovative technology of multi-signatures to protect assets, separating the keys between the user and the BitGo service itself.
The BitGo platform also provides maintenance services for marketplace transactions, exchanges and e-commerce customers. Currently, BitGo’s capabilities are limited to large protocols, such as Bitcoin and Ethereum. BitGo Technical Director Benedikt Chan said that the demand for custodian solutions for altcoins is steadily growing.
According to Robin Verderosa, vice president of Product Promotion, BitGo plans to obtain a BitLicense license to work in New York State and to begin providing services to a qualified asset repository in South Dakota.
Until the end of the year, the company intends to expand the list of services for storing digital assets and add support for more than 100 cryptocurrencies. Among other things: Bitcoin Cash, Litecoin, and XRP were added to the BitGo platform last year.
“BitGo intends to provide high-level support and a variety of functionality on its platform, including support for coins derived from forks that have a certain value. We listen and actively collect the demands of our customers, ” Miles Belsh, CEO of BitGo, said earlier.