Monday, April, 15, 2024 02:15:06

Leading institutional cryptocurrency financial services company BitGo Inc. has reportedly formed a partnership with Genesis Global Trading, a trailblazer in over-the-counter digital currency trading, to deliver clients the capability to trade digital assets right from BitGo custody.

As per trusted sources, BitGo Trust clients can easily execute trading orders without the need of managing their keys or moving their resources from the industry’s most protected cold storage. This is possible through a seamless integration which has been made available without any extra charges.

Mike Belshe, Chief Executive Officer of BitGo, was quoted stating that some custodians do prefer risking security and safety by allowing swift withdrawals from cold storage, at the cost of their client’s susceptibility to serious threats like theft, hacking, and false instructions. Belshe further mentioned that the partnership with Genesis Global Trading, a FINRA and SEC regulated company, provides its clients the access to liquidity via Genesis’s strong network of trading partners. This alliance solves the real problem which is the requirement to access liquidity and not to accelerate withdrawals, he added.

Michael Moro, CEO of Genesis, said in a statement that company has been a long-standing partner of BitGo and believes in their institutional offerings. Genesis is an industry leader in digital currency trading & lending and offering liquidity to companies like BitGo is vital to the company’s value proposition, Moro added.

According to sources familiar with the development, benefits accessible to clients through the BitGo-Genesis collaboration gig include real-time online pricing for buy and sell orders and asset management under the BitGo Trust Company’s custody, which is reportedly the first purpose-built custodian for digital assets. Additionally, the benefits also fall along the likes of easy implementation of transactions from cold storage without managing keys and Access Genesis’s deep liquidity via a strong network of trading partners with same-day payments, possible through a BitGo Trust account.

Numerous currencies including Bitcoin, Litecoin, Bitcoin Cash, Ripple and Zcash are available for trading