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BitGo Unveils Retail Crypto Custody Platform
BitGo said the retail offering provides the same institutional-grade security guarantees under the hood that the firm’s existing customers are familiar with.
Dec 2, 2024, 3:14 p.m.
What to know:
- Users can set up a fully custodial service with a self-custody wallet alongside and move funds seamlessly between the two.
- U.S. customers who sign up for the service will be entered into a prize draw to win a full bitcoin.
BitGo, a cryptocurrency custodian that has been meeting companies' safekeeping needs since 2013, said it is introducing a dedicated retail platform for everyday crypto investors.
The retail custody offering is live for all global investors and provides the same institutional-grade security guarantees under the hood that the firm’s existing customers are familiar with, CEO Mike Belshe said in an interview.
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In fact, the very first incarnation of BitGo was kind of a retail-ish website, he said.
“What we quickly found back then was building a business around security turned out to be kind of the bigger play for us,” Belshe said. “I've always said we have a date with retail at some point in the future and it's just going to kind of depend on when that is, and it's now.
In terms of custodial and non-custodial wallets, or hot and cold storage, the new product is “whatever you want it to be,” Belshe said.
“We've had self-custody wallets forever. With the BitGo retail product, you can create a fully custodial wallet and right side-by-side with it inside the user interface, you can also create a self-custody wallet, and you can move funds seamlessly between the two.”
U.S. customers who sign up for the service will be entered into a prize draw to win a full bitcoin, BitGo said in a press release.
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