PALO ALTO, Calif.–(BUSINESS WIRE)–BitGo, the leader in digital asset financial services, announced today that it has launched the first institutional-grade wallet and custody solutions, providing on-chain, multi-signature security for TRON’s TRX token. TRON will also be using BitGo as its custodian.
“BitGo is a trailblazer and well-known marker of quality for the digital assets industry,” said Justin Sun, CEO, TRON. “Together we are manifesting the next chapter of blockchain and financial services. We are proud of this partnership and the value it will provide to the entire industry.”
BitGo enables businesses to integrate digital assets into their investment portfolios securely and at scale with 100% multi-signature technology across over 200 coins and tokens.
BitGo pioneered multi-signature security in 2013 and, since then, it has become an industry standard for security of digital wallets. Multi-signature is an open source protocol, and has been through thorough testing and evaluation by the security community. Multi-signature makes use of distinct private keys specifically assigned to individuals for increased accountability, transparency and security not available through other technologies.
“We worked with TRON’s development team to develop their first multi-signature, institutional-grade wallet,” said Benedict Chan, CTO, BitGo. “TRON’s move towards on-chain multi-signature opens the door for financial services clients. Fiduciaries, who are responsible for other people’s money, demand the highest levels of security and compliance.”
TRONIX is a MainNet token based on the TRON Protocol issued by TRON Foundation, known as TRX. TRX is the basic unit of accounts on the TRON blockchain. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with abundant application scenarios that power transactions and applications on the chain.
BitGo is the leader in digital asset financial services, providing institutional investors with security, custody, and liquidity 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 200 coins and tokens, and has over $2 billion in assets in wallet and custody. 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, Digital Currency Group, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
TRON is dedicated to accelerating the decentralization of the Internet through blockchain technology and decentralized applications.
Founded in September 2017 by Justin Sun, the company has delivered a series of achievements, including Mainnet launch on May 2018, network independence on June 2018, and TRON Virtual Machine launch on August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services.
TRON is the world’s largest decentralized network and new projects like Project Atlas will connect BitTorrent to the world of Blockchain, enabling faster downloads and torrent lifetimes, creating a tokenized content ecosystem that benefits 100M+ existing users.
TRON is connecting thousands of developers across the world through its consumer-focused ecosystem based on Blockchain, cryptocurrency, dApps, and leading peer-to-peer file sharing products; respectively TRON, Peiwo, BitTorrent & µTorrent.
Learn more about TRON on our website www.tron.network and our social channels.
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Original Release: Business Wire