BitGo To Offer Institutional Investors Custody Services
Blockchain security company BitGo has announced plans to introduce and develop a cryptocurrency custody service for institutional investors, BitGo Trust Company. Corporate entities will be able to buy and sell Bitcoin with the reassurance that their funds are protected. This makes another cryptocurrency company entering the crypto custody space but reportedly the first qualified custodian specifically built for digital assets.
BitGo Inc prides itself as a market leader in institutional-grade cryptocurrency investment services. They have provided institutions with solutions such as multi-signature security for large exchanges such as UPbit, Kraken and Korbit. They introduced the first multi-signature hot wallet able to protect funds to buy and sell crypto for live orders. The company has become one of the largest processors of on-chain Bitcoin transactions accumulating 15% of global transactions.
Supporting more than 75 coins and tokens, BitGo can offer custody on a diverse range of cryptocurrencies. Their custody service offers 100% cold storage in bank grade Class III vaults, institutional-grade policy controls, multi-user accounts, fast onboarding and 24/7 support. When a client looks to sell crypto, all this protection results in multiple levels of authorisation to access the funds.
BitGo has been in the crypto space since 2013 and continues to provide support for institutions. They believe the development of infrastructure around cryptocurrency services will attract more investment to the space. When hacks are a major concern, safety of assets is essential. No institutional investor will buy and sell cryptocurrency if they believe their funds are at risk.
To ensure you don’t miss any of the latest news happening in crypto or looking to sell cryptocurrency, then head over to BC Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards