The security of exchange wallets is one of the weak points of the crypto ecosystem, one example is the recent theft suffered by Cryptopia.
To keep the funds safe it would be necessary to use cold storage, i.e. wallets that are not connected to the internet.
The Palo Alto company raised $58.5 million in October 2018 from investors such as Goldman Sachs and Mike Novogratz’s Galaxy Digital Ventures and is investing in new technology solutions aimed at large institutional investors.
To this end, BitGo Trust has developed an integration to easily connect the traders of its platforms with the cold storage solution.
The first platform to use this technology is Genesis, a company regulated by FINRA and SEC and a pioneer in the crypto sector, particularly with regard to OTC trading, which offers BitGo Trust traders a network in which to exchange their cryptocurrencies, with settlement in 24 hours.
In this way, users can trade without having to move funds from BitGo Trust and without having to manage the keys.
The goal of BitGo Trust is to provide a platform with a robust infrastructure for large volume traders and investors, and with a simple user interface that facilitates the purchase and sale of digital currencies, which can significantly reduce risk and complexity.
The cryptocurrencies traded on Genesis by BitGo Trust are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic, (ETC), Litecoin (LTC), Ripple (XRP) and Zcash (ZEC).