BitGo launched a new system of calculations for institutional

BitGo launched a new system of calculations for institutional

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BitGo has launched a new settlement system for the institutional BitGo custodial solutions provider announced the launch of a new clearing system for institutional investors. It is reported by CoinDesk.

The new service will be provided to BitGo Trust Company customers. It ensures that assets do not leave storage during transmission, while actual calculations will be “fast, compatible and secure.” During the transactions, BitGo will act as a custodian for both parties, which, according to the company, will reduce the counterparty risks that customers may encounter.

In addition, the new service should provide enhanced security, reduce regulatory risks and allow investors to more efficiently distribute capital. In this case, the transfer is fixed between two different companies, but the traded assets should always be stored in cold storage. Transactions are planned to be conducted offline, and after the withdrawal of funds, the operations will be checked with the corresponding blockchain.

BitGo CEO Mike Belsh stated that the service is focused on the company’s institutional clients. “Until now, in the digital asset trading, one party had to assume all the risk and act, relying on the counterparty’s good faith, and this does not work with institutional investors.

We bring risk-free, efficient and compatible digital asset clearing and settlement to the market, and this service is made possible by the reliable BitGo Trust client base. ” With the help of the new service, BitGo hopes to attract participants of OTC trading operations, investment banks, stock exchanges, asset managers and brokers-dealers.

To use the new service, all participants in the transaction must keep their assets in BitGo. “As a result of interaction with one custodian, participants will be able to choose with which partners to carry out calculations, and check trade restrictions before making a deal,” the company said.

Recall that at the beginning of the year BitGo announced a partnership with the Genesis Global Trading OTC service, within which institutional investors will get access to high-frequency trading with cryptocurrencies.

BitGo launched a new system of calculations for institutional

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