The services will be offered by BitGo Prime, a new entity that will be headed by Nick Carmi, BitGo’s head of financial services. Carmi joined the…
Proud to have @GoldmanSachs and #GalaxyDigital on our side: Goldman and billionaire Mike Novogratz are investing in cryptocurrency custodian BitGo https://www.bloomberg.com/news/articles/2018-10-18/goldman-wades-deeper-in-crypto-betting-on-bitgo-with-novogratz … … via @technology
Goldman Wades Deeper in Crypto, Betting on BitGo With Billionaire Mike Novogratz
Goldman Sachs Group Inc. and a venture founded by one of its former partners, billionaire Mike Novogratz, are investing in cryptocurrency custodian BitGo Holdings Inc., as the bank’s deep-pocketed...bloomberg.com
“This strategic investment from Goldman Sachs and Galaxy Digital Ventures validates both our market opportunity and unique position. 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."Rana Yared, a Managing Director of Goldman Sachs’ Principal Strategic Investments group, stated:
“Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.”And Michael Novogratz, Founder of Galaxy Digital Ventures LLC, had this to say:
“Institutional investors are gradually realizing that digital assets are going to be a game changer, and they want to participate. We have been impressed with BitGo’s world class team, their deep technical understanding of digital assets as well as their ability to deliver institutional-quality products to investors. Our team is excited to support BitGo as it enters into this next phase of growth.”On 13 September 2018, as covered by CryptoGlobe, BitGo announced that it had become a "qualified custodian" by obtaining a South Dakota trust charter, which made it even more attractive to institutional investors. BitGo's "BitGo Custody" solution for institutional investors offers:
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