Genesis and BitGo Partnership for Straight from Cold Storage Client Trades
BitGo, a cryptocurrency custodial firm, and Genesis, an over-the-counter digital currency trading group, announces their partnership. With the partnership, BitGo clients can conduct transactions directly from cold storage, view order books in real-time, and gain access to ‘deep liquidity’ provided by Genesis, without added fees.
BitGo supports trades in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC).
Transact Trades Straight from Cold Storage
BitGo clients can accomplish buy and sell orders ‘without having to manage keys’ or transfer their assets from cold to hot storage.
‘Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to liquidity through Genesis’ robust network of trading partners.’
-Mike Belshe, Chief Operating Officer of BitGo
Mike Belshe, CEO of BitGo, stated in the press release that ‘some’ custodians forego security for the sake of fast cold storage withdrawals which may result in a hack. Their partnership with Genesis provides access to liquidity without the need to accelerate withdrawals.
Established by Mike Belshe and Benedict Chan in 2013, California’s BitGo has a multisignature bitcoin wallet service to mitigate risk. The wallets can store over a hundred digital coins and tokens. It contains three keys, two of which are held by wallet owners and the other by BitGo.
Last September 2018, the South Dakota Division of Banking gave BitGo a state trust company charter authorizing them as a legal digital currency custodian.
About Genesis Global Trading
A Digital Currency Group subsidiary, Genesis Global Trading is an institutional digital currency trading platform. They provide OTC trading for high net worth traders and institutions. The firm has a BitLicense issued by the New York Department of Financial Services.
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