KuCoin Partners with BitGo for Off-Exchange Custody
- KuCoin partners with BitGo for off-exchange custody solutions.
- Collaboration boosts asset security and trust.
- Initiative aims to reassure institutional clients.
KuCoin, a major cryptocurrency exchange, has partnered with BitGo Singapore Pte. Ltd. to offer off-exchange custody solutions, announced this collaboration recently.
The partnership is essential, providing secure asset storage and reinforcing trust, mirroring industry’s shift towards institutional security.
KuCoin and BitGo Enhance Custody Solutions for Security
KuCoin collaborates with BitGo Singapore Pte. Ltd., signaling a shift towards greater asset security. This initiative involves BitGo’s Go Network for Off-Exchange Settlement.
KuCoin, serving over 41 million users, partners with regulated BitGo Singapore. The partnership targets enhancing security and trust for institutional clients.
$2 Billion Trust Project Underpins KuCoin-BitGo Partnership
Institutional clients benefit as assets remain in BitGo custody rather than exchange wallets. This enhances security and bolsters confidence in KuCoin’s platform.
The initiative is part of a $2 billion Trust Project. Insurance coverage up to $250 million further secures assets, promoting institutional investment confidence.
Post-FTX Industry Trends Drive Security Focus
This strategy reflects industry trends post-FTX, emphasizing safety by segregating custody and trading. Similar risk reduction measures develop industry trust.
Experts suggest increased institutional inflows as confidence grows. Historically, such measures result in safer markets and reduced systemic risks.
“The collaboration aims to reinforce institutional trust and platform security,” said Tika Lum, Head of Institutional Business Development at KuCoin.
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