- BitGo Custody will be storing BitStamp’s assets on a 100% cold storage technology in bank-grade Class III vaults.
- BitGo’s $100m insurance policy will further secure the vaults.
As per Cointelegraph, BitGo, the digital asset financial services firm, will be expanding its partnership with Bitstamp to include custodianship of digital assets. BitStamp is the world’s longest-standing crypto exchange while BitGo developed the world’s first institutional-grade, multi-signature hot wallet.
David Osojnik, Bitstamp CTO, was generous with his praise for BitGo saying:
“BitGo has been one of our most trusted partners for many years and this is a natural extension of our relationship. Their exclusive focus on institutional services has allowed them to develop the tech and processes necessary for running a robust and compliant cryptocurrency exchange. But, more than that, they have proven to be a great partner, committed to our mutual success as well as the further development of our industry.”
Mike Belshe, BitGo CEO, said:
“Bitstamp is one of the most highly-regarded exchanges in the world and they chose BitGo Custody because we understand what they need to run their business. Institutions need a lot more than an app with pretty charts. They need proper security, which includes technology, people, and processes, and they need exceptional client service. We’re proud to have earned Bitstamp’s trust and their business.”
BitGo Custody will be storing BitStamp’s assets on a 100% cold storage technology in bank-grade Class III vaults. These will be protected by BitGo’s $100 million (USD) insurance policy.