Crypto Custodian BitGo Adds Dash Supportbr>
Blockchain security firm BitGo has added Dash to its expanding list of currencies, making it the first multi-signature wallet and custodial solution to support the cryptocurrency.
Founded in 2013, BitGo offers an enterprise-grade, multi-sig, multi-user bitcoin wallet, as well as API access to its underlying security platform. The company claims to have over $2 billion in assets in wallet, and a customer base that includes the world’s largest cryptocurrency exchanges and spans more than 50 countries.
The addition of Dash will allow users to easily create wallets for the cryptocurrency and view their combined holdings in one place with a total USD value. Clients’ Dash holdings will be held by BitGo Trust, a new service built using the firm’s institutional-grade, multi-signature security to deliver modern security for modern assets. BitGo Trust currently supports 85 cryptocurrencies, including bitcoin, ethereum, Bitcoin Cash, Litecoin, and Zcash.
“BitGo’s integration with Dash provides this new currency model with an infrastructure to attract institutional investment and provide the highest level of security available on the market today,” said Ben Chan, Chief Technology Officer of BitGo. “Institutional customers will be able to enjoy high security storage and also take advantage of InstantSend on this asset.”
Dash is an e-commerce and payments-focused cryptocurrency that allows users to make instant payments online or in-store. Dash is accepted at more than 3,000 merchants, including 1,450 in Venezuela, in addition to being accessible via 400+ ATMs and 90+ exchanges worldwide. It claims that it is about 200x cheaper than bitcoin, with eight times the capacity to verify transactions every second.
“There are many benefits of integrating Dash into BitGo’s industry-leading services. First, it introduces a comprehensive custodial solution to the Dash network,” said Ryan Taylor, CEO of Dash. “BitGo will also be the first to provide an enterprise-class multi-signature wallet, which will enable institutions to safely leverage Dash at scale as part of their operations. Because so many large cryptocurrency exchanges rely on BitGo as part of their security, this integration will enable Dash to partner with many new exchanges and make supporting Dash easier for some of our existing partners. Finally, BitGo gains a new capability with Dash in the form of instant transactions, which we think many of their clients – especially exchanges – will value greatly.”