BitGo Launches Prime Service to Focus on Institutional Investors

Digital asset trust company and security company, BitGo, has announced a new service called BitGo Prime. This provides a focus on institutional investors, and allows users to trade from insurance-backed cold storage.

BitGo Prime has been in beta for some time, and is now ready to launch, according to Forbes.

The goal, of course, is to bring in investors with more to spend. Many institutional investors, hedge funds, and the like are hesitant to enter the cryptocurrency space due to volatility and other issues. For them to get involved, they need the same level of security that traditional markets have.

Speaking on the matter is BitGo CEO Mike Belshe, who had said:

“Specifically I don’t think in the end you’ll see a single exchange that is the buyers broker and sellers broker and clearing house all in one. And that’s holding actual back the industry and institutional clients. Why? If you are trying to take a $50m position, you’re not going to write a check to Coinbase. That’s not how markets work. It would be a dereliction of duty.”

Bitfinex, as InsideBitcoins has previously reported on, is getting involved with institutional investors as well. Assuming the industry can bring these investors in, we’ll see more and more money flow into the cryptocurrency space.