Cryptocurrency news websites report on July 25 that Zcash will be joining several major cryptocurrencies on BitGo’s platform. BitGo offers multi-signature wallets and custodial products and services for users, including institutional clients.
Clients can now store Zcash in both BitGo’s multi-sig wallets and its cold-storage solutions.
BitGo: The future of Digital Custody Services?
BitGo’s chief technical officer Ben Chan said that “Zcash is a natural fit for BitGo as both are focused on privacy protection, security, and cutting-edge technology.” Zcash comes to the platform after several institutional clients expressed interest in it, Chan adds.
ZCash Engineer Brad Miller stated that BitGo’s support will help investors send and receive Zcash in a safe and secure way, particularly because of the high-security standards the firm adheres to.
Miller adds that the ZCash ecosystem team and BitGo worked together to ensure ZCash is well supported and integrated.
Chan revealed that BitGo intends to add more cryptocurrencies to its platform, with the firm planning to have more than 100 on its list by the end of this year.
BitGo filed for a charter to build its regulated asset custody service back on May 25 of this year. It is not yet clear when BitGo will open for business, but Clarissa Horowitz, marketing vice president of BitGo says they are working with regulators.
BitGo has some lofty ambitions to reach for. As Chan said, BitGo is “on its way to be the first purpose-built digital qualified custodian.”