Crypto Custodian BitGo Teams With Genesis Global Trading To Simplify Crypto Trading For Institutional Investors

News | January 17, 2019 By:

Blockchain security and crypto wallet firm BitGo has partnered with crypto firm Genesis Global Trading to help institutional investors feel more comfortable entering into the crypto market.

BitGo offers institutional cryptocurrency financial services and provides clients with security, compliance, custodial, and liquidity solutions. The company supports over 100 coins and tokens, and has over $2 billion in assets in wallet. BitGo’s customer base includes major cryptocurrency exchanges and spans more than 50 countries.

Founded in 2004, Genesis Global Trading operates as a trading company that provides over-the-counter (OTC) cryptocurrency trading services for institutional investors and high net worth individuals. A broker-dealer registered with the SEC, FINRA, and the New York Department of Financial Services, Genesis claims that it has facilitated billions of dollars in transactions since 2013.

The two companies entered into a partnership to provide clients with the ability to trade digital assets directly from BitGo custody. The integration of Genesis’ trading platform with BitGo’s cold storage custody solution will enable BitGo Trust clients to easily execute buy and sell orders without having to manage keys or move their assets from the cold storage.

“Some custodians are choosing to sacrifice security and safety by enabling fast withdrawals from cold-storage which makes their clients more susceptible to hacking, false instructions, and theft,” said Mike Belshe, CEO, BitGo. “Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to liquidity through Genesis’ robust network of trading partners. And that solves the real problem which is the need to access liquidity – not the need to speed up withdrawals.”

Through BitGo’s partnership with Genesis, clients will be able trade a variety of currencies including bitcoin (BTC), Bitcoin Cash (BCH), ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC).They can also access Genesis’ deep liquidity through a robust network of trading partners with same day settlement directly through a BitGo Trust account.

“BitGo has been a terrific, long-term partner to Genesis and we have a lot of confidence in their institutional offerings,” said Michael Moro, CEO, Genesis. “We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition.”