Provider of solutions for the storage of scriptaction BitGo, startups and Network Kyber Republic Protocol, MakerDAO, Dharma, Airswap, IDEX, Compound, DDEX, Hydro Protocol, Set Protocol, Prycto, RadarRelay and Gnosis jointly preparing to launch in January of the following year secured bitcoin in the ratio 1:1 token Wrapping Bitcoin (WBTC), created the standard Ethereum ERC-20.
It is expected that “token will bring stability and value of bitcoin in the evolving ecosystem of decentralized applications on the Ethereum”. While BitGo will provide custodial services for storing bitcoins and tokensecret them.
Today, in partnership with @KyberNetwork, @republicorg, and our community of launch partners, we’re introducing Bitcoin Wrapped, the first ERC20 token backed 1:1 with #BTC – with full proof of reserve. CTO @bencxr explains: https://t.co/dlpQAzigQq #wbtc $wbtc #wrappedbitcoin pic.twitter.com/bgqxrFJ7Eh
— BitGo (@BitGo) October 26, 2018
We will remind, in September BitGo announced that the Department of banking services of South Dakota approved the launch of the trust BitGo Trust, which will 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. In October, the startup raised a $15 million investment from Goldman Sachs and Galaxy Digital Ventures.