Bitstamp to use BitGo for crypto custody

posted 9 months ago
BitGo is being used to provide custodial services for Europe’s largest exchange by trading volume. Bitstamp will begin to transfer its assets under management to BitGo’s wallets on Oct. 10.

BitGo uses Class III bank-grade vaults for cold storage and has taken out a $100 million insurance policy through Lloyd’s of London, which covers against theft or the loss of cryptographic keys. A BitStamp representative said “We plan on diversifying our custody options in the future in order to serve the different needs of our diverse customer base.” Mike Belshe, CEO of BitGo, said “Institutions... need proper security, which includes technology, people, and processes, and they need exceptional client service.”
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