Avalanche (AVAX) is now available to Bitgo Global Clients.
It’s supposed to be a game-changing move for Avalanche as BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions with over $64B in assets under custody. Moreover, BitGo processes approximately 20% of all global Bitcoin transactions and supports over 400 coins and tokens.
Access to $AVAX is now available to @BitGo’s global client base, providing the most secure and reliable way for institutions to access the rapidly growing #Avalanche ecosystem.https://t.co/pNEmgC80UQ
— Avalanche ? (@avalancheavax) December 16, 2021
Later, BitGo, the leader in digital asset financial services, confirmed the news via responding to AVAX tweet.
Gm. $AVAX is live in @BitGo's wallet and custody platform which secures 20% of all #BTC TXs by value, custodies more than $64B+ in assets, and powers 150+ exchanges in 50 countries. Support for #Avalanche tokens coming soon. Probably nothing. https://t.co/MziP7VikOa
— BitGo (@BitGo) December 16, 2021
Mike Belshe, CEO of BitGo said:
“BitGo is excited to provide our institutional client’s access and safe custody to Avalanche as we see the strong demand for a more efficient DeFi ecosystem, Institutional custody is not the same as retail custody and BitGo wallets and custody were designed from the ground up to meet the needs of institutional investors, and BitGo is the only independent qualified custodian focused on building the right market structure and facilities to enable institutions to enter the digital asset space with confidence.”
John Wu, President of Ava Labs said:
“BitGo has a demonstrated track record of being a vital partner for institutions and their clients to not only securely hold digital assets, but have the confidence to become significant participants in the blockchain ecosystem, As institutional and enterprise interest in Avalanche continues to accelerate, BitGo will play a vital role in expanding access to this segment and supporting the community of builders on the platform.”
The adoption of AVAX is picking up momentum. On Dec. 14, Circle launched support for its native coin USD Coin (USDC) on Avalanche.
DeFi Kingdoms, the NFT-driven GameFi player challenging Axie Infinity, is preparing to launch on Avalanche soon.