California startup BitGo announced that institutional clients can now Bank transfer to Deposit funds in Fiat with service BitGo Trust.
Combining fiat with storage of crypto puts control back in the hands of traders. BitGo Trust clients can now deposit fiat currency: https://t.co/zKkgxlnvQU #digitalcurrencies #custody
— BitGo (@BitGo) 28 January 2019 R.
According to representatives of BitGo, a new option will significantly speed up the operation and facilitate the work with Fiat “unregulated liquidity providers”.
“For liquidity providers, who are not allowed to keep Fiat or digital currency, easy access to the means reduces the time to settlement of commercial transactions. Without piatogo account traders are needed each time to transfer the money to execute the buy orders. This process was inconvenient and took a lot of time because we had to rely on a third party and to transfer assets between accounts. Moreover, delays in operations, increased the risk of volatility”, — said in a blog post BitGo.
We will remind, BitGo and OTC services Genesis Global Trading aim to facilitate access to liquidity for institutional investors.