BitGo Enters Crypto Lending Service Arena For Institutional Clients Author: Ali Raza Last Updated: 14 June 2020 One of the latest sectors to see incredible growth within the crypto industry is the lending services sector. As it stands now, another heavyweight crypto exchange has taken notice of the opportunity and has subsequently pushed into the industry. Creating Sustainable Crypto Lending Services BitGo is a crypto firm that claims to handle 20%, a full fifth, of the global crypto transactions. As it stands now, the exchange has launched a crypto lending service dedicated to an institutional level. This service, launched on the 5th of March, is the debut of a lending feature BitGo took several months to test and develop within a private beta test. BitGo’s head of financial services, Nick Carmi, stressed that this new crypto lending product was created with a specific goal in mind. This goal was to create a lending business that could offer lending services that are similar in quality to traditional financial markets’ counterparts. Carmi: Sustainability Is King Carmi was quick to state that this lending service expansion was a facet of the company’s overarching sustainable business model. He noted that BitGo had no interest in a business based on high volumes and low margins. Instead, he stated that BitGo plans on developing quality relationships with its respective clients, and creating a sustainable, long term business model through doing so. Some of the significant facets within BitGo’s lending offering stands as customized and detailed reporting for each client, the ability to work with the regulated Custodian, BitGo Trust, as well as collateralized loans. All of these features were mentioned in the firm’s announcement. Primarily Focused On Institutional Clients Carmi joined up with the company back in May of 2019, with a well-established reputation as a Wall Street Veteran. Serving as Bitgo’s Head of Finance, he stated that these new lending services are a first for the company as a whole. Carmi further said that BitGo would focus primarily on the institutional markets when it comes to this, with no future plans as to whether or not it will make it available to non-institutional traders in the days ahead. As it stands now, Carmi stated that BitGo’s institutional lending service is capable of supporting more than 15 different forms of crypto, with big names like Bitcoin and Ethereum included. Fiat coins are added to the mix as well, with stablecoins alongside it. Crypto innovation has taken new leaps, with further innovation bound to come as the days go on.