Continuing on our path of expanding digital currency support through a single integration API, BitGo is excited to be offering support for Ethereum-based ERC-20 tokens. ERC-20 is a protocol standard that includes a set of rules for many Ethereum-issued tokens. Its easy-to-follow standard, which allows for speed to market and greater liquidity has been a major contributing factor to the success of ICOs (initial Coin Offerings).
There are currently well over 20,000 tokens that transact on the Ethereum network. The ICO market raised a healthy $6.8 billion in funds in 2017 and is seen to be on pace for an even higher funding level for 2018.
BitGo anticipates that the growth in new digital assets and tokens using ERC-20 will continue in 2018. Having released the Ethereum multi-signature smart contract wallet and completed numerous audits this was a natural next step for BitGo in meeting customer needs. Dozens of customers have tested our ERC-20 solution over the last several months with hundreds of millions of dollars worth of tokens stored and transacted. We’d like to thank our customers that helped in the testing period for their continued support.
Today, we are proud to announce the global release of BitGo multi-signature ERC-20 support. BitGo plans to release support for additional ERC-20 tokens at a fairly regular pace throughout the coming months. To keep track of new tokens as they’re added, go to the BitGo Multi-currency webpage or simply check your Ethereum wallet in the “Supported Tokens” section. For information on how to access ERC-20 through your Ethereum wallet as well as other support questions, check out these helpful articles. For any additional information, please contact us.
Keeping digital currency safe and secure in a multi-signature wallet is key to eliminating any single point of failure. At BitGo we’re working to expand our coverage so that all your digital currency is secure. We currently offer Bitcoin (BTC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and our newest edition, a growing list of ERC-20 tokens. All coins and tokens are supported through BitGo’s single unified API, making development to all digital currencies quick and easy.