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Tokenize Xchange
“In layman’s terms, BitGo is like a bank for digital assets, providing custody and storage with a very heavy lock that no one can penetrate.”
Tokenize Xchange chose BitGo as their custodian from inception. It has proven to be an enduring partnership.
As a qualified, regulated custodian with trust entities in four jurisdictions, BitGo adheres to higher standards for security infrastructure. “The fact that BitGo is a regulated, qualified custodian was definitely a factor for us,” said Alson Chia, Head of Operations at Tokenize Xchange.
Singapore
BitGo’s pioneering multi-signature technology lets users quickly transact with all the major coins, without sacrificing security. “BitGo’s infrastructure, top-notch tech, and security architecture are state-of-the-art, and embody their comprehensive commitment to building a trusted crypto platform,” says Hong Qi Yu, Founder and CEO at Token Xchange.
Coins and Tokens
As Tokenize Xchange searched the market for a qualified custodian, BitGo stood out for its long tenure in the industry since 2013 and its strong reputation around security. “BitGo is one of the ‘OG’ names in crypto. Its track record speaks for itself. Newer custodians didn’t have that,” explained Chia.
Custody Wallets
Headquartered in Singapore with operations in Malaysia, Vietnam, and Taiwan, Tokenize supports crypto-to-fiat pairs in SGD and USD, with additional pairings like EUR, GBP, JPY, and HKD available through their OTC desk. What set them apart from other exchanges in the region was their commitment to working with regulators. As Chia explains, “our objective is to be a regulated exchange. We move more deliberately to stay compliant with regulations.”
The key challenge for Tokenize was that regulations on digital assets were still being drafted in the jurisdictions where they operate. To navigate this uncertainty, Tokenize had to prioritize choosing the right partners, especially when it came to selecting a partner to protect their digital assets. They needed cold storage for the majority of their reserves, along with hot wallets and received addresses for secure customer deposits. To mitigate counterparty risk, they sought a partner that could segregate assets, provide insurance, and uphold fiduciary responsibility.
Partnering with BitGo gives Tokenize a peace of mind as they expand. “Having BitGo as our custodian gives us a sense of security. Their reputation and insurance coverage provide peace of mind. If it’s stored in BitGo custody, it’s safe and we don’t have to worry,” stated Chia.
They can also feel confident that they have partnered with a custodian that shares their vision of regulation as a path to trust in digital assets and is ready, willing, and able to meet future regulatory requirements as they take effect.
“Tokenize Xchange’s success is in part the result of our partnership with the trustworthy and versatile BitGo platform. Not only has BitGo established itself in recent years as a safe and reputable crypto platform, it has also been supportive of Tokenize Xchange’s vision from our very inception.”