A leading institutional provider of digital assets expands Ethereum (ETH) Competitor Avalanche (AVAX) to its arsenal of altcoins.
In a new blog post, BitGo CEO Mike Belshe says the company can offer investors the security and efficiency they need to enter the world of digital assets – especially as the demand for fast decentralized financial platforms (DeFi) like AVAX, increases.
“BitGo is excited to offer our institutional clients access and safe custody Avalanche as we see strong demand for a more efficient DeFi ecosystem.
Institutional custody is not the same as retail custody and BitGo wallets, and custody was designed from the ground up to meet the needs of institutional investors in the digital asset space with confidence. “
In a new interview with Yahoo Finance, Ava Labs President John Wu Avalanche says BitGo’s partnership with BitGo will provide collateral not only to larger institutions but also to individual investors.
“BitGo [is] one of the old hands in space. They are a trustworthy and secure source not only for individuals in crypto, but also for companies and institutions.
Your partnership with us gives our fans more access because they are connected to many access points … and they allow institutions to gain real convenience in their own safekeeping of things. “
BitGo was founded in 2013 and taken over by the capital market company Digital Galaxy at the beginning of the year. BitGo offers its services to 700 institutions in 50 nations and handles 20% of all Bitcoin (BTC)Transactions worldwide.
The rival’s Ethereum native AVAX token is trading hands at $ 112.34 at the time of writing, up 44% from its 7-day low of $ 77.87.
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Source: Crypto News Deutsch