BitGo is a different kind of cryptocurrency exchange platform. It’s one of the very few ones that are focused on providing cryptocurrency financial services to institutional customers instead of the retail investors that are still the majority of players in the cryptosphere. And it’s the world’s market leader in that category. BitGo alone processes 15% of all Bitcoin transactions in the world and.
It supports more than a hundred digital assets. Across all of those tokens, it has a flow of USD 15 billion monthly. The company is active in more than 50 countries all over the world, and it owns the first qualified custodian service for cryptocurrencies, called BitGo Trust.
Tron is a third-generation blockchain platform that’s been growing very quickly and successfully during a period of time that has seen most other blockchains and cryptocurrencies shrink or lose value. It’s already the largest decentralized application network in the world, and it’s not even two years old.
It was founded by Justin Sun, who already had something of a celebrity status in his natal China because he’s the man behind China’s most popular chatting mobile app. He is also known ad Jack Ma’s (Alibaba’s founder) close friend and protegé which doesn’t hurt his reputation either.
Tronix (TRX) at Bitgo
Last Tuesday, Tron announced that BitGo would support Tron’s TRX cryptocurrency later this year by providing a wallet and custody support.
“This partnership with BitGo will let institutional investors trade TRX with the confidence,” explained Mr. Sun, who is also the CEO of BitTorrent.” As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.”
BitGo’s chief technology officer, Ben Chan, also addressed the new partnership saying:
“Institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step,” he remarked.
The BitGo official continued,
“BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people’s assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX.”
Institutional investors have been very skeptic about cryptocurrencies in general since Satoshi created them about a decade ago.
So this is an exciting development for Tron because BitGo’s support will open the doors for it to the institutional markets which could end up being the driving force behind crypto once some of the current fear they still have for digital assets fades away.
And Blockchain projects with solid fundamentals, such as Tron, can be the key to a successful marriage between the traditional and the digital economies.
The precise date for Tron’s inclusion at BitGo is still unknown, but it’s definitive that it will be this year. Inclusion in a platform of BitGo’s importance will surely increase Tron’s trading volumes and demand for the token. Both things, in turn, can only help the coin’s price.
Image courtesy of Pixabay.
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