Blockchain software firm BitGo is now set to provide wallet and custody support for TRON (TRX) currency later this year. TRON will reportedly be joining Bitcoin, Ethereum and more than 100 other cryptocurrencies. While sharing more details about the launch on BitGo, Justin Sun, founder of TRON and CEO of BitTorrent, stated:
“This partnership with BitGo will let institutional investors trade TRX with the confidence. As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.”
According to Ben Chan, Chief Technology Officer at BitGo, institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step. Chan added:
“BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people’s assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX.”
BitGo has reportedly processed 15% of all global Bitcoin transaction and $15 billion per month across all cryptocurrencies. The platform has more than $2 billion in assets in crypto wallet and its customers were in more than 50 countries. BitGo is notably backed by Craft Ventures, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.