Today we’re pleased to announce support for Stellar, making BitGo the first multi-signature wallet and custodial solution on the market supporting the digital currency. Lumens (XLM) are the native asset of the Stellar network, a fully open-source distributed ledger.
In mid-November CoinDesk covered our news that BitGo multi-signature wallets and custody solutions support over 100 coins and tokens. With the addition of lumens, we now support 115 digital currencies. View our complete list of all supported coins and tokens.
BitGo’s wallet and custody solutions are 100% multi-signature, offering the best security for institutional investors who wish to invest in a basket of cryptocurrencies to mitigate risk. BitGo supports:
BitGo CEO Mike Belshe highlighted the value that the Stellar network brings to clients with its unique payments system in an October interview on Fortune’s Balancing the Ledger. Specifically, the Stellar network’s infrastructure facilitates cross-asset transfers of value, including cross-border payments, and provides an instant clear, settlement, and execution platform.
“We’re continuously adding support for digital currencies that our clients express interest in, and lumens are a natural next addition. The Stellar network offers BitGo clients access to a public financial structure for cross-border transfers, making XLM an important new asset for investors,” said Ben Chan, BitGo Chief Technology Officer. Until now, users of the Stellar network employed a manual process for creating a multi-signature wallet to hold their lumens. BitGo makes cryptocurrency security easier, providing a safe and secure multi-signature wallet and custody solution for XLM.
Along with XLM, BitGo supports Stellar’s federated address syntax, an email-like payment address that makes it far simpler for users to share payment details.
Jed McCaleb, cofounder of the Stellar Development Foundation explained that “as the leading institutional custodian service and business wallet in the market, BitGo provides a broad range of options for anyone interested in holding lumens. BitGo broadens institutional client exposure to Stellar by making it significantly easier and more secure to hold XLM.”
Only BitGo offers security, compliance, and custody solutions utilizing multi-signature wallets across all supported digital currencies. With Stellar’s focus on safe, reliable, and cost-effective money transfers, BitGo provides the right foundation for even greater adoption.