PALO ALTO, CA, January 16, 2019 — BitGo Inc., the market leader in institutional cryptocurrency financial services, today announced that it has partnered with Genesis Global Trading, an industry pioneer and leader in over-the-counter digital currency trading, to provide clients with the ability to trade digital assets directly from BitGo custody. Through a seamless integration, BitGo Trust clients can easily execute buy and sell orders without having to manage keys or move their assets from the industry’s most secure cold storage. There are no additional fees for this service and BitGo Trust clients do not need to have a Genesis account.
“Some custodians are choosing to sacrifice security and safety by enabling fast withdrawals from cold-storage, which makes their clients more susceptible to hacking, false instructions, and theft,” BitGo CEO Mike Belshe said. “Our partnership with Genesis Trading, a FINRA and SEC regulated company, gives our clients access to liquidity through Genesis’ robust network of trading partners. And that solves the real problem, which is the need to access liquidity — not the need to speed up withdrawals.”
“BitGo has been a terrific, long-term partner to Genesis and we have a lot of confidence in their institutional offerings,” Genesis CEO Michael Moro said. “We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition.”
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BitGo is the market leader in institutional cryptocurrency financial services, providing clients with security, compliance, custodial, and liquidity solutions. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company supports over 200 coins and tokens, and has over $2 billion in assets in wallet.
BitGo’s customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
Genesis Global Trading is a worldwide leader and established partner in over-the-counter digital currency trading, providing deep pools of liquidity to institutional investors and high net worth individuals. A broker-dealer registered with the SEC, FINRA, and the New York Department of Financial Services, Genesis is an industry pioneer and market maker that has facilitated billions of dollars in transactions since 2013. Genesis continued to trailblaze with the launch of Genesis Global Capital in March 2018 to provide institutional lending services for digital assets.