BitGo, the market leader in digital asset financial services, today announced support for the BCAP ERC-20 token from Blockchain Capital. In addition to multi-signature wallet security, BitGo clients can custody their BCAP assets with BitGo Trust Company, a qualified custodian that provides compliant custody for security tokens.
“Security tokens are an increasingly important asset class for institutional investors and BitGo is here to support them,” said Ben Chan, Chief Technology Officer, BitGo.
“As a qualified custodian, we recognize how critical compliance is for our clients and we’re pleased to be able to provide custody services that are compliant with securities regulations. This is a major step forward for mainstream adoption.”
Blockchain Capital pioneered the BCAP in April of 2017 when they launched the world's first ever tokenized investment fund and by extension the blockchain industry's very first security token. The BCAP represents an indirect economic interest in the limited partnership interest in the tokenized investment fund. Token holders benefit from exposure to the underlying assets of the fund, which invests in the digital assets and equity securities of some of the most recognized emerging companies building blockchain and digital asset platforms. The hallmark of the BCAP token is that holders are able to trade their tokens on secondary trading platforms in a manner that is compliant with applicable securities regulations, giving holders exposure to early stage venture capital assets while also benefiting from the opportunity for liquidity in those assets.
"We wanted to ensure that our custody solution for BCAP would be completely secure while easy to manage", said Brad Stephens, Co-Founder and Managing Partner of Blockchain Capital. "When we compared custody offerings, BitGo's solution was far ahead of the other options in both design and security, so we're excited to partner with them."
BitGo is the market leader in digital asset financial services, providing institutional investors 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, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
Blockchain Capital was founded in 2013 with the mission of helping entrepreneurs build world-class companies and projects based on blockchain technology – providing founders with the tools they need to succeed: capital, domain expertise, partnerships, recruiting and strategy. Blockchain Capital is one of the oldest and most active venture investors in the blockchain industry and has financed 75+ companies and projects since its inception. The company invests in both equity and tokens and is a multi-stage investor. Blockchain Capital also pioneered the world's first ever tokenized investment fund and by extension the blockchain industry's very first security token, the BCAP, which the company sold through a security token offering in April of 2017. The company’s view is that blockchain technology holds the promise to disrupt legacy businesses and create whole new markets and business models. Blockchain Capital believes its network of entrepreneurs, investors, and advisors brings unrivaled resources to founders who want to leverage blockchain technology to change the world in profound ways. For more information, Contact Us, visit www.blockchaincaptal.com, or call 415-677-5340.