This weekend the leading cryptocurrency security platform, Bitgo, announced the launch of custodial storage solutions for institutional investors. The new custodial program aims to offer a multi-level suite for digital asset security in partnership with the firm Kingdom Trust.
Bitgo Offers a Secure Custodial Platform for Institutional Investors
The Palo Alto-based firm Bitgo is now offering institutional investors custodial services due to a partnership with Kingdom Trust. The news follows the recent announcements from the Wall Street giant Goldman Sachs launching a cryptocurrency product, and companies like Coinbase offering services to institutional clientele. The latest institutional grade suite offered by Bitgo and Kingdom Trust provides custody services like treasury controls, advanced security solutions, and 24-7 monitoring.
Multi-level services for the new custodial products include self-managed custody, institutional custody with multi-sig wallet, and the Bitgo offline vault. The vault stores keys offline and when tethered to a multi-signature wallet it can be programmed to require co-signers.
“Secure your digital assets in an offline multi-signature vault in minutes — An offline vault generates and stores private wallet keys on a clean air-gapped computer,” Bitgo’s offline storage white paper explains.
To spend funds from an offline wallet securely, you can sign transactions with your private keys offline using Bitgo Offline Vault —This means your private keys are never online or linked to a computer connected to the internet.