BitGo, a digital asset management group that manages $2 billion and based in California, can now provide instantaneous trading to institutional investors, according to a press release from the group.
This is thanks to a partnership with SettleBit – a protocol that ensures “custodians can add a standardized clearing and settlement layer” to their offerings. This is largely thanks to SettleBit’s API, which will integrate into the BitGo platform. From here, institutional investors can trade with one another from cold storage.
On top of this, the first trade on the platform, worth $100,000, has already occurred as of January 22nd.
This isn’t the first time BitGo partnered with another firm, however. Toward the end of last year, BitGo began offering institutional-level custody for the TRON cryptocurrency. Thanks to that partnership, BitGo is able to offer multi-signature security to its investors, as InsideBitcoins has previously reported.
Also, BitGo is set to be one of the most important players in the blockchain/cryptocurrency space, according to MarketWatch. A report from Fortune Business notes that among Microsoft, NVIDIA, Coinbase, and a few others, BitGo is set to drive the adoption of “e-wallets” from this period until 2026. By then, it is likely that the space will see much more adoption, and groups like BitGo will arguably thrive at that point.