Financial giant Goldman Sachs and Mike Novogratz’s cryptocurrency bank Galaxy Digital have invested $15 million in developing BitGo, a startup that specializes in developing services for the safe storage of digital assets.
Thus, the total amount of funds raised by the BitGo team reached $58.5 million, reports Street Insider.
BitGo’s CEO Mike Belshe said:
No one is better positioned than BitGo to serve institutional investors who want to trade cryptocurrencies and digital assets. That’s why we’re focused on figuring out what it takes to secure a trillion dollars. The market’s not there yet but our job is to be ready first.
The representative of the top management of Goldman Sachs Rana Yared stressed that BitGo offers a unique product. Investing in this startup will benefit the credit institution, as it will help it to form a secure infrastructure for virtual money buying and selling transactions.
Goldman Sachs had previously studied the options for running its own service for the secure storage of tokens.
The founder of the cryptobank Galaxy Digital, Mike Novogratz, noted the high potential of the BitGo team and expressed the hope that an investment of $15 million will help the startup to develop successfully.
BitGo specialists are engaged in servicing digital storage, which contains $2 billion worth of cryptocurrencies. In September, the company received permission from the US authorities to provide traders with services for the safe storage of their cryptocurrency savings.