Crypto Security Firm BitGo Adds Privacy-Focused Cryptocurrency ZCash

Announcements, News | July 26, 2018 By:

Blockchain security firm BitGo has added support for privacy-centric cryptocurrency ZCash on its platform.

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 process 15% of all global bitcoin transactions and $15 billion per month across all cryptocurrencies.

BitGo announced on Wednesday that Zcash is now supported in both their multi-sig wallets and cold storage custody solutions. Zcash joins a number of major cryptocurrencies on the startup’s platform, including bitcoin (BTC), ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Bitcoin Gold (BTG). Recently, the company’s custodian service also added support for 57 ethereum-based tokens.

“Our mission is to offer our institutional clients the most complete portfolio of digital currency investment services, which includes the largest and most diverse basket of coins and tokens to help them hedge the market and get better returns,” said Ben Chan, Chief Technology Officer of BitGo. “As one of the world’s most valuable and technologically demanding digital currencies, Zcash is an important new asset for our institutional investors.”

ZCash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users. It uses “zero knowledge proofs,” which conceals the identity of the parties involved in a transaction. Currently, it is among the top 20 cryptocurrencies, with a market capitalization of over $1 billion.

“With BitGo’s exceptional standards, institutional grade, multi-signature security and custody services, investors are able to seamlessly send and receive Zcash in a safe and secure way,” said Brad Miller, Zcash engineer and ecosystem lead. “The Zcash company ecosystem team and BitGo worked collaboratively to ensure Zcash is well integrated and supported.”