Blockchain software firm BitGo announced on Tuesday that LGO Markets, the newly-launched digital asset trading platform for institutional investors, is providing BitGo custody and multi-signature wallets for its clientele of hedge funds, family offices, and asset managers.
According to BitGo, LGO’s clients will be able to custody their assets with BitGo Trust Company, an independent, qualified custodian that provides compliant custody and is regulated by the South Dakota Division of Banking.
“LGO’s mission is to build a fully-regulated, transparent and compliant digital asset exchange focused on the needs of institutional investors. They chose BitGo as one of their custody partners for its track record as the world’s most secure custody solution with institutional-grade compliance and policy controls. BitGo has the most comprehensive support of digital coins and tokens and will support LGO’s token, which is on the Ethereum platform.”
Speaking about the collaboration, Hugo Renaudin, CEO of LGO Markets, stated:
“As a non-custodial platform, it makes sense for LGO to partner with a world-class custodian such as BitGo to service our clients. BitGo and LGO believe that there is a need for segregation of duties between execution of trades and custody of funds for institutional investors to enter the space. We are committed to client service and will integrate with our clients’ solutions of choice. We are very proud to start with BitGo who shares our values of professionalism, transparency, and security.”
Mike Belshe, CEO of BitGo, added:
“Both BitGo and LGO Markets are committed to the needs of institutional investors and shaping a new financial market infrastructure based on trust, transparency and security. Our vision is aligned as both companies believe strongly in decentralized cryptocurrency markets where exchanges do not act as their own custodians, and where institutional investors can trade, manage, and store their digital assets without sacrificing security.”