Blockchain security company BitGo has been a leader in the crypto space since the company’s inception in 2013. BitGo offers a suite of products for institutions and individual cryptocurrency holders including web wallets, institutional custody services, cold storage solutions, and private blockchain construction.
The company began by offering the first multisig Bitcoin wallet and has since expanded their product line to provide multisig wallets for Litecoin, Ethereum, ERC-20 tokens, Bitcoin Cash, Bitcoin Gold, and Ripple XRP. BitGo was the first wallet provider to insure their clients’ digital asset holdings against theft.
BitGo also offers an instant payment feature, which allows clients to send digital currency instantly without waiting for confirmations from the network. In addition, the company partnered with The Royal Mint and the Chicago Mercantile Exchange (CME Group) to build the blockchain undergirding Royal Mint Gold (RMG), a digital token tied to the spot price of gold.
At Consensus 2018, I sat down with Ben Chan, CTO of BitGo to discuss what the future holds for the company. Chain explained that this year the company is focused on improving their custodial services and was interested in the decentralized exchange space.
“For this year, it’s really about custody. We want to keep improving and strengthening our position in custodial services. Towards the end of the year, we’re working to offer other financial services on top of [custody]. We’re really interested in decentralized exchanges. We believe that [decentralized exchanges] provide a new source of liquidity, as well as more interesting ways to trade.”
Chan predicts that 2018 will likely be the year we see large institutions adopting cryptocurrency and introducing distributed ledger technology.
“First we’ll see adoption by large institutions, then adoption by companies like Fidelity which will begin offering [access to the crypto space] to their clients. That’s how the
