BitGo Launches 24/7 Withdrawal Support to Maximize Access and Security for Customers
Leading Digital Asset Custody Platform Becomes First to Provide Non-Stop Digital Asset Withdrawal Services
Service Offered Through Women-Led BitGo Trust Company
PALO ALTO, CA, March 17, 2022 – BitGo, the leader in digital asset financial services, today announced the launch of 24/7 withdrawal support, a first-of-its-kind solution that provides the company’s 700+ clients the ability to transact at any time with the security of holding their digital assets in cold storage.
BitGo’s 24/7 withdrawal support is designed to enable greater accessibility, security, and convenience for digital asset holders. While other custodial platforms only allow customers to access their digital assets during certain hours, typically only on weekdays, BitGo’s 24/7 withdrawal support provides customers with non-stop, unimpeded access to their digital assets. The solution is offered through BitGo’s custodial platform BitGo Trust Company (“BitGo Trust”), led by President Cassie Lentchner, the first female president of a crypto custody bank.
“Digital asset markets are open for trading 24/7 and digital asset holders deserve around-the-clock access to their assets. Through BitGo’s 24/7 withdrawal support, they are finally able to receive this service 24 hours a day, seven days a week,” said Lentchner. “The digital asset ecosystem is growing at a rapid pace and as such, it is critical that we continue to provide the most comprehensive solutions to our broad customer base, which spans from leading exchanges to some of the top financial firms and investors. I’m proud of our best-in-class team for creating this game-changing solution and look forward to continuing to provide unmatched accessibility and security to the digital asset economy.”
"Security is always top-of-mind for investors globally as they look to ensure their digital assets are safe and protected," said Chris Kline, COO and co-founder of Bitcoin IRA. "BitGo’s latest safeguard enhancement goes beyond the traditional security requirements, establishing a new industry standard, and giving investors peace of mind. This is exactly what our clients are looking for as both institutional and retail players move into the digital asset arena and we are excited to incorporate this development into our platform for our clients and their crypto."
BitGo Trust was designed to meet the needs of institutional investors and crypto native businesses who don't want to compromise security for access. BitGo Trust is the only independent, qualified custodian focused on building the proper market structure and facilities to allow institutions to enter the digital asset space with confidence.
BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions with over $60B in assets under custody. Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. Active in both centralized and decentralized finance, BitGo offers market leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, with more than $15 billion in custody and circulation. In 2020, BitGo launched BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes approximately 20% of all global Bitcoin transactions, and supports over 400 coins and tokens. BitGo provides the security and operational backbone for more than 500 institutional clients in 50 countries, including many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Redpoint Ventures, and Valor Equity Partners.
The information in this press release is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Custody services are offered through BitGo Trust Company, a South Dakota chartered trust company. BitGo is not registered with the SEC as an investment advisor or custodian, and does not offer legal, tax, investment, or other advice. Please consult your legal/tax/investment professional for questions about your specific circumstances.
BitGo Trust Company, BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA.
No legal, tax, investment, or other advice is provided by any BitGo entity. Please consult your legal/tax/investment professional for questions about your specific circumstances. Digital asset holdings involve a high degree of risk, and can fluctuate greatly on any given day. Accordingly, your digital asset holdings may be subject to large swings in value and may even become worthless.