How we got here
In 2012, BitGo CEO Mike Belshe was impressed by the technology behind Bitcoin and the emerging cryptocurrency market for its novelty and its ability to change financial markets as we know them. He manually built air-gapped storage systems for himself and many prominent angel investors in Silicon Valley. As an internet pioneer and creator of the HTTP/2.0 protocol, Mike had witnessed the rise-and-rise of malware on the Internet. As Bitcoin prices rose, he feared his hobbyist’s state-of-the-art air-gapped solution was not sufficient for the value he was securing. He continued his research into Bitcoin and better solutions, and pioneered the first commercially ready multi-signature wallets. These early projects led to the creation of BitGo in 2013 and is the foundation of BitGo’s 100% multi-signature system.
Today, BitGo wallets have evolved into the world’s leading institutional-grade wallet that supports a multitude of digital assets and the BitGo security platform is used by hundreds of exchanges, institutional investors, and others in the crypto industry.
From security to financial services
BitGo is the only company that has been focused exclusively on serving institutional clients since 2013. In 2016, two things became clear:
- Institutional clients needed more than a wallet for digital assets
- The existing digital asset market structure was so fundamentally broken that it was preventing institutional investors from participating
One of the primary strengths of digital assets is that they are decentralized. Ironically, the current markets where we trade digital assets, including Bitcoin, are the most centralized markets in the world. No other asset class is traded with so little safety for large investors where the exchange operates as all parties–the broker, the exchange, the clearing house, and even the bank. In 2018, seeking to create a safer and more robust market for digital assets, BitGo became the first independent, regulated custodian purpose built for digital assets by launching BitGo Trust Company.
Today, BitGo is focused on working with clients, partners, and regulators to deliver innovative security, custody, and liquidity solutions. Security and safety is forever our core responsibility.