Provider of solutions for the storage of scriptactive and BitGo platform for OTC trading Genesis Global Trading have teamed up to develop service that provides investors with wall street the opportunity to carry out trading cryptocurrencies with the speed inherent in the traditional financial market.
For example, when placing 100 bitcoin BitGo user will be able to instantly sell them at the price offered by Genesis – custodian will transfer the cryptocurrency your client to the buyer in the crypto BitGo Trust, and he will send back the Bank transfer in U.S. dollars. Moreover, these assets are in storage BitGo, and transaction data are recorded in the blockchain.
On the BitGo blog today: “Partnering with @GenesisTrading underscores our commitment to developing institutional-grade cryptocurrency infrastructure and represents the first of many trading integration partnerships.” https://t.co/OttVxKoq06 #digitalcurrencies #custody
— BitGo (@BitGo) January 16, 2019
Thus BitGo has expanded the scope of its activities from storage scriptaction to settle with them in real time and exchange operations without risk of default.
Recall that last fall the Department of banking services of South Dakota approved the launch of the trust BitGo Trust, which aims to be adjustable by a qualified repository of digital assets that focus on institutional investors using the system security multiporpose the following policies and AML/KYC.