I’m proud to announce that BitGo has been selected by Ripple to provide multi-signature security, advanced treasury management and additional enterprise functionality for XRP, the digital asset native to the Ripple Consensus Ledger (RCL). The integration of XRP into the BitGo platform will be complete later this year.
Ripple has been building momentum for its global settlement network since it launched in 2012. Ripple enables banks and payments businesses to settle cross-border payments in real time, with end-to-end transparency, and at a lower cost. XRP can be used as the primary transfer mechanism for institutions to further reduce costs, offer greater liquidity and provide access to new corridors. In fact, Ripple reports that businesses using XRP for liquidity between currencies can cut their settlement costs up to 60 percent and expand their reach into new markets.
Ripple is a perfect partner for BitGo since our mission is to make digital assets like XRP usable for business. BitGo’s sweet spot is providing businesses the tools they need to integrate digital assets into their existing financial systems securely and at scale. We process over $1 Billion in transactions per month and our customers include the biggest digital currency exchanges and applications in the world.
Partnering with Ripple and working with the technology behind the RCL and XRP has been outstanding. They have a dedicated and experienced group of developers. The RCL has been processing and validating transactions on the network since 2013, closing a ledger every five seconds. This team understands crypto and traditional finance extremely well and I believe they are well positioned to disrupt global settlement via blockchain.
Ripple is accelerating exchange adoption with a volume incentive which reduces or eliminates costs for an initial period. Interested exchanges should contact Ripple. For anyone interested in buying and trading XRP today, you can visit the How to Buy XRP page. As more exchanges add XRP as a trading option for their customers, BitGo functionality will be there to support them.
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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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