PALO ALTO, CA — July 19, 2022 — BitGo, the leader in digital asset financial services, today announced a partnership with the NEAR Foundation, the world’s fastest growing, carbon neutral, open source blockchain, which enables developers to easily build, test, and deploy applications. The partnership makes BitGo the first qualified custodian to support the protocol and its assets, including its native token, NEAR.
Now, institutions holding NEAR tokens are able to custody and stake these tokens via hot wallets and Qualified Custody wallets on BitGo’s platform. BitGo and the NEAR Foundation (the “Foundation”), which supports the NEAR protocol ecosystem through its financial and operational resources, also announced today that the Foundation will custody its own treasury with BitGo and stake part of this treasury using BitGo’s hot and Qualified Custody wallets, further extending this unique partnership.
“BitGo is proud to become the first qualified custodian to provide services to the entire NEAR Protocol ecosystem, including holders of the NEAR token who have been searching for a secure way to store and stake their assets,” says Mike Belshe, BitGo CEO. “We are excited to deliver them safe and secure custody and staking services for their NEAR tokens and other valuable assets.”
“This is a significant step for NEAR and its foray into the world of institutional investments,” said Marieke Flament, CEO of the NEAR Foundation. “With BitGo, we will support their clients and give them the ability to stake and earn rewards on their NEAR assets — both safely and securely. We are also placing our confidence into BitGo by putting our own treasury in its custody. ”
“We are excited to see BitGo launch custody, execution and staking for NEAR, providing institutional caliber services to support one of the most exciting, high-growth Layer 1 protocols in the market. We look forward to using BitGo’s services alongside the Near Foundation to continue our investments across this next chapter of growth and development for the NEAR ecosystem,” said Sal Ternullo, Partner at Warburg Serres Investments.
BitGo adds NEAR to the 500+ tokens and coins that it supports for the growing list of institutional clients in over 50 countries. To get started holding and staking NEAR with BitGo sign up here.
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BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide. For more information, visit www.bitgo.com.
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