- Bitstamp to secure assets under its management in BitGo’s cold storage facilities.
- BitGo has a $100 million insurance policy put in place to guarantee the safety and promote trust.
Bitstamp in a press release on October 9 said that it was going to transfer all the digital assets under its management for safekeeping with BitGo. The transfer of the assets will commence on October 10. The chief technical officer of Bitstamp David Osojnik said:
“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.”
Bitstamp assured the investors that the safety of their assets is guaranteed at BitGo’s cold storage which features bank-grade vaults. Moreover, they will fall under BitGo’s $100 million insurance policy.
Read also: Cryptocurrency market update: Hope for a Bitcoin ETF handed a blow, Bitcoin, Ethereum and Ripple slash gains
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