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BitGo: for cex a platform dedicated to retail audience
By Davide Grammatica
BitGo platform opens to retail public, who will now have access to classic regulated trading, staking and custody services
A breakthrough for BitGo
Crypto service provider BitGo has launched a new platform dedicated to the retail public, who will now be able to access classic (regulated) trading, staking and custody services through the historic crypto company.
Founded in 2013, BitGo has always been committed to meeting the needs of institutional clients, starting with asset custody. Not surprisingly, it was at the forefront of the Mt. Gox bankruptcy process, having been involved to help facilitate customer redemptions. It also handles BTC custody on behalf of funds such as Ark Invest/21Shares and Valkyrie.
The deal follows the recognition of a relevant market opportunity, namely the need for retail clients to move through instruments in full regulatory compliance, just as it does for institutional ones. The task for BitGo seems simple, so it aims to expand its services based on safety, transparency, and regulatory compliance to smaller investors as well.
The BitGo Retail platform has launched!
With BitGo Retail, you get access to:
– Secure trading with institutional-grade protection
– Custody solutions trusted by industry leaders
– Opportunities to stake and earn rewards, all under one platformBitGo’s trusted security… pic.twitter.com/M9vMDBQo2I
— BitGo (@BitGo) December 2, 2024
Surviving in an evolved marketplace
“We are excited to launch BitGo’s dedicated retail platform, and to offer them the same solutions developed for the institutional market,” said Mike Belshe, ceo of BitGo. “Retail investors need a crypto-native platform that puts security first, and we are excited to serve as a trusted partner.”
On the other hand, the initiative also stems from a change in the company’s strategy that touches on other elements as well. One among them, the plan (announced in unsuspected times) to become a minority partner in a new joint venture with BiT Global (Justin Sun) for custody control of WBTC.
Sun’s moderate esteem in the crypto world, however, has led realities such as MakerDAO (now Sky) to limit the minting of DAI (USDS) using WBTC as collateral. Therefore, BitGo seems to be looking for new opportunities in the market to survive this period of structural change.
