Bitstamp and Bitgo Team Up for Secure Digital Asset Storage

Bitstamp, a well-established cryptocurrency exchange, has partnered with Bitgo, a leading digital asset storage provider, to give users a secure and reliable way to store their assets.

This partnership brings together two industry leaders to provide a seamless experience for users. Bitstamp is known for its user-friendly interface and robust trading platform, while Bitgo is renowned for its secure multi-signature wallets.

The collaboration aims to address the growing need for secure digital asset storage solutions. Bitgo's expertise in security and Bitstamp's extensive user base will create a powerful combination.

By teaming up, Bitstamp and Bitgo will offer users a more comprehensive solution for managing their digital assets.

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BitGo is a leading digital asset custody and financial services company that provides secure and reliable solutions for storing, managing, and trading cryptocurrencies.

Founded in 2013, BitGo has established itself as a trusted name in the industry, with over $5 billion in assets under custody and a strong reputation for security and compliance.

BitGo's platform allows users to store, send, and receive cryptocurrencies, as well as manage their digital assets across multiple exchanges and wallets.

The company's flagship product is BitGo Wallet, a secure and user-friendly wallet that provides advanced features such as multi-signature technology and real-time asset tracking.

BitGo's custody solutions are designed to provide enterprise-grade security and compliance, making it an attractive option for institutional investors and financial institutions.

Bitstamp is giving BitGo custody of its customers' digital currencies, transferring client assets to BitGo wallets starting tomorrow.

This move is a natural extension of their long-standing relationship, with BitGo's exclusive focus on institutional services allowing them to develop the tech and processes necessary for a robust and compliant cryptocurrency exchange.

BitGo's CEO, Mike Belshe, emphasizes that institutions need more than just an app with pretty charts - they require proper security, including technology, people, and processes, and exceptional client service.

BitGo's insurance policy of $100 million will ensure customers have their funds replaced in case of theft or software problems.

Bitstamp's clients will now be able to see their assets kept in cold storage via "bank-grade class III vaults".

This partnership is a significant step towards addressing regulation and custody issues holding back mainstream adoption, as Bitwise managing director Matt Hougan pointed out in a recent discussion.

By working with BitGo, Bitstamp is taking a major leap towards becoming a stronger institutional presence in the crypto space.

Bitstamp has chosen BitGo as its third-party custodian to secure its users' digital assets. This decision reflects Bitstamp's commitment to keeping its users' assets safe and secure.

BitGo provides independent reporting to Bitstamp and certain key stakeholders of what balances it holds, allowing Bitstamp to reconcile its own internal records against these reports. This is done through daily, weekly, and monthly processes followed by Bitstamp's financial control team.

The chosen custodian should provide security features that can be deployed to protect the funds in custody and are compatible with the exchange's security principles. BitGo and Bitstamp both hold SOC 2 Type 2 attestation, which is annually renewed via independent third-party audits.

Different users' funds kept with third-party custodians should be separated from each other. Bitstamp has managed to address this with BitGo, keeping its users' assets safe and secure.

BitGo will provide secure storage for digital assets under management at Bitstamp. This includes storing assets in 100% cold storage technology in bank-grade class III vaults and being protected by BitGo's $100 million insurance policy.

BitGo has been tapped by Bitstamp to provide custodial services for its European clients. This is a significant move, as BitGo has a proven track record of providing secure storage for digital assets.

BitGo uses Class III bank-grade vaults for cold storage, ensuring that assets are kept safe and secure. They also have a $100 million insurance policy through Lloyd's of London, which covers against theft or the loss of cryptographic keys.

BitGo has over 300 clients for its custodial and trust services, and has developed the tech and processes necessary for running a robust and compliant cryptocurrency exchange. This expertise has earned BitGo the trust of Bitstamp, which has chosen to transfer its assets under management to BitGo's wallets.

BitGo has developed the world's first institutional-grade, multi-signature hot wallet.

BitGo Custody offers 100% cold storage technology in bank-grade class III vaults.

BitGo's $100 million insurance policy protects assets stored on their platform.

BitGo supports over 200 coins and tokens, and has over $2 billion in assets in wallet and custody.

BitGo processes 15% of all global Bitcoin transactions, and $20 billion per month across all cryptocurrencies.

BitGo's customer base includes the world's largest cryptocurrency exchanges and spans more than 50 countries.

BitGo has been tapped to provide custodial services for Europe's largest exchange by trading volume, Bitstamp.

BitGo uses Class III bank-grade vaults for cold storage and has taken out a $100 million insurance policy through Lloyd's of London, which covers against theft or the loss of cryptographic keys.

Bitstamp will begin to transfer its assets under management to BitGo's wallets on Oct. 10.

A company representative said BitGo has over 300 clients for its custodial and trust services.

BitGo provides independent reporting to Bitstamp and certain key stakeholders of what balances it holds, allowing Bitstamp to reconcile its own internal records against these reports.

There are daily, weekly, and monthly processes that Bitstamp's financial control team follows to do this.

BitGo's custodial services are designed to provide a secure and transparent way for exchanges to store their customers' assets.

Bitstamp has chosen BitGo because of its exclusive focus on institutional services, which has allowed it to develop the tech and processes necessary for running a robust and compliant cryptocurrency exchange.

BitGo offers a $100 million insurance policy in the event of theft or software problems that result in lost coins.

This insurance policy ensures that customers will always have their funds replaced in due time.

Bitstamp's clients will be able to see all their assets kept in cold storage via "bank-grade class III vaults" through BitGo's services.

BitGo's CEO, Mike Belshe, said that institutions need a lot more than an app with pretty charts, they need proper security, which includes technology, people, and processes, and exceptional client service.

BitGo's customer base includes the world's largest cryptocurrency exchanges and spans more than 50 countries.

BitGo supports over 200 coins and tokens, and has over $2 billion in assets in wallet and custody.

BitGo's custodial services are designed to provide a secure and transparent way for exchanges to store their customers' assets, giving them peace of mind and protecting their business interests.

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Bitstamp is giving BitGo custody of its customers' digital currencies.

This move is a natural extension of their relationship, as David Osojnik, CTO of Bitstamp, believes that BitGo has developed the necessary tech and processes for a robust and compliant cryptocurrency exchange.

Custody services have been a serious concern for institutional investors and regulators in the crypto space.

Bitstamp is now allowing its clients to see all their assets kept in cold storage via "bank-grade class III vaults".

BitGo offers a $100 million insurance policy in the event of theft or software problems that result in lost coins.

Institutions need more than just an app with charts; they require proper security, including technology, people, and processes, and exceptional client service, according to Mike Belshe, BitGo's CEO.

Bitstamp's work with BitGo is a step towards a stronger institutional presence in the crypto space.