PALO ALTO, Calif., Feb. 19, 2019 /PRNewswire/ -- TRON announced today that BitGo, the market leader in digital asset financial services, will provide wallet and custody support for TRON (TRX) currency later this year.
BitGo pioneered multi-signature security and now provides security, compliance, custodial, and liquidity services for institutional investors. TRON cryptocurrency joins Bitcoin, Ethereum and more than 100 other cryptocurrencies.
"This partnership with BitGo will let institutional investors trade TRX with the confidence," said Justin Sun, founder of TRON and and CEO of BitTorrent. "As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options."
Added Ben Chan, chief technology officer at BitGo: "Institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step," Chan said. "BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people's assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX."
Founded in 2004, BitTorrent, Inc. is the largest decentralized peer-to-peer network in the world, with over 100 million active users driving 22% of upstream and 3% of downstream traffic globally.
TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON, one of the largest blockchain protocols, offers high throughput, high scalability, and high availability for all Decentralized Applications (DApps). The ecosystem is governed by Super Representatives and the community.
BitGo is the market leader in institutional cryptocurrency financial services, providing clients with security, compliance, and custodial solutions. BitGo is the world's largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company supports over 100 coins and tokens, and has over $2 billion in assets in wallet. BitGo's customer base includes the world's largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.