After a prolonged association with the top digital currencies, crypto custody service provider and digital asset management company BitGo has announced that it will be adding TRON (TRX) on its platform. The announcement on Medium stated that the end of November 2019, would complete the integration.
BitGo chief, Robert Hendry, wrote in the blog post that TRON came to the company, given its reputation for delivering security solutions. He further added,
We’ve been working closely together to develop the first TRX institutional-grade wallet and custody offerings that provide on-chain, multi-sig security. BitGo pioneered multi-sig security in 2013 and, since then, it has become an industry standard for security of digital wallets. Multi-sig is a digital signature scheme which allows two or more users to securely sign documents as a group. In the case of digital assets, funds are stored using a multi-sig address and must be accessed by two or more keys, which are held by separate individuals.
Custodial services in the crypto industry have grown in popularity in the last few months. BitGo itself has been on the heels, making significant developments on the platform. A few weeks ago, the California based company announced staking for Dash Coin, and hence, the newest TRX integration proves that the company is up for big strides in terms of custodial services and crypto staking.
Just a few days back, Hut 8 Mining Corp switched to BitGo as the new custodian. Crypto trading platform Bitsmap also entered into a partnership with BitGo for providing crypto custodial services. All of these developments in recent weeks indicate that BitGo is all set to become one of the leaders in the segment, which currently is dominated by big guns like Coinbase, itBit, etc.