BitGo and Genesis launch new crypto trading solution for institutions

16 Jan, 2019 | Updated: 16 Jan, 2019
by David Robb
News
BitGo and Genesis launch new crypto trading solution for institutions

A major new partnership has been announced between OTC trading expert Genesis Global Trading and BitGo, a leading provider of crypto custodial solutions. This will enable institutional clients to directly trade crypto.

This collaboration, which successfully integrates the institutionally-focused solutions of both companies, will improve trading for those used to more conventional financial markets. Many institutional investors are wary of personally holding their own digital tokens , so they can take advantage of the custodial services of BitGo, while also having the fast-executing trades offered by Genesis' OTC service.

According to Genesis CEO Michael Moro, "because we have a BitGo Trust wallet ourselves, the coins are actually never leaving the BitGo system, just going from client to Bitgo to Genesis without ever being exposed to hot wallets and public blockchains".

"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."

This combination of convenience and security should encourage further institutional investment in crypto. It will allow trading of a number of different tokens, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC).

Read more: Is Bitcoin dead? 8 reasons why it is NOT

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