The BitGo cryptocurrency depository allows customers to trade directly from the company's account

BitGo – a $ 2 billion cryptocurrency depository, has partnered with financial service provider SettleBit to allow customers to organize transactions directly from their BitGo accounts.

Founded in 2018, BitGo provides security, depository and liquidity solutions for institutional level customers. The platform currently processes about $ 15 billion of cryptocurrencies per month.

According to a press release on Tuesday, BitGo now allows its customers to trade directly from depository accounts via API integration with SettleBit payment platform. With this new feature, customers can instantly receive price incentives that match the liquidity network and move on to real-time settlement as soon as their money is verified. During the process, their money will be guaranteed in cold storage.

Right now, the platform allows transactions in Bitcoin, Ether and USD, but the company said it expects to add more utility tokens and stablecoins in the near future.

“We know that many of our customers want to trade without moving their assets out of the cold storage,” said Nick Carmi, Head of Financial Services at BitGo. “Using our payment API, SettleBit has created a simple and elegant solution.”

“The first transaction has been completed,” the notice noted, when the CTM Digital Entertainment distribution network initiated a $ 100,000 Bitcoin transaction on January 22.

Recently, more and more cryptocurrency companies are launching payment solutions for OTC traders. Besides BitGo, Gemini and Seed CX are also providing similar services to attract institutional customers with the expectation that intermediaries will reduce the risk of their operations.

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According to The Block
Translated by ToiYeuBitcoin

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