New BitGo Partnership Lets Clients Trade Crypto Directly From Cold Storage

New BitGo Partnership Lets Clients Trade Crypto Directly From Cold Storage 1

American crypto wallet and custodial firm BitGo has teamed up with Genesis Global Trading, a digital asset trading firm, to improve the crypto trading experience for its institutional investors.

Investors who use BitGo’s custody service can now trade their assets directly from their BitGo custody account, without the need to move the assets to an exchange.

“Institutional investors want to put their assets to work and they want security,” Mike Belshe, BitGo’s CEO, told Bitcoin Magazine. “Until now, they’ve had to make compromises on one front or the other, choosing to trade off security for speed of withdrawals from custody. Now, as a result of our partnership with Genesis, they have access to multiple trading venues without ever having to move their assets from the security of cold storage.”

The partnership will allow BitGo’s institutional clients to access instant pricing for buy and sell orders. For example, if an investor holds 250 BTC in storage with BitGo, they can get real-time pricing for buy and sell orders, execute transactions from within their BitGo account and have it settled same day.

In a statement, Belshe said, “Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to liquidity through Genesis’ robust network of trading partners. And that solves the real problem which is the need to access liquidity — not the need to speed up withdrawals.”

The South Dakota Division of Banking granted BitGo a charter in September 2018 — an approval that allowed the startup to act as a qualified custodian of cryptocurrencies in the state.

Genesis, the subsidiary of blockchain venture capital firm Digital Currency Group, offers over-the-counter trading to its investors and it became the first New York-based firm to receive a BitLicense.

Genesis Global Trading recently revealed that the company saw a 50 percent increase in its OTC trading volumes for 2018, which shows that the company was not shaken by the effects of the bear market that started last year.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022


CryptoCurrencyUSDChange 1hChange 24hChange 7d
? --- 0.00 % 0.00 %

bitcoin
Bitcoin (BTC) $ 21,401.00
ethereum
Ethereum (ETH) $ 1,695.74
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 283.20
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.337732
cardano
Cardano (ADA) $ 0.466342
solana
Solana (SOL) $ 36.86
dogecoin
Dogecoin (DOGE) $ 0.069133