{"id":28655,"date":"2023-09-15T16:25:37","date_gmt":"2023-09-15T16:25:37","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/09\/15\/bitgo-and-swan-partner-to-launch-a-bitcoin-only-trust-company\/"},"modified":"2023-09-15T16:25:37","modified_gmt":"2023-09-15T16:25:37","slug":"bitgo-and-swan-partner-to-launch-a-bitcoin-only-trust-company","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/09\/15\/bitgo-and-swan-partner-to-launch-a-bitcoin-only-trust-company\/","title":{"rendered":"BitGo and Swan partner to launch a Bitcoin-only trust company"},"content":{"rendered":"

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Key takeaways<\/p>\n

BitGo and Swan to launch a new trust company<\/h2>\n

Crypto custodian BitGo and bitcoin monetary companies agency Swan have introduced plans to launch a Bitcoin-only trust company.\u00a0<\/p>\n

According to the\u00a0press release<\/u><\/a> printed on Thursday, the Bitcoin-only trust company will supply custody with out publicity to different digital currencies. The trust, which will likely be launched following regulatory approval, will mix BitGo\u2019s custody capabilities with Swan\u2019s experience in fraud prevention and onboarding.\u00a0<\/p>\n

The corporations stated it could be the primary Bitcoin-only trust company within the United States. BitGo CEO Mike Belshe stated,\u00a0<\/p>\n

\u201cWe believe the best model for the Bitcoin industry is the same battle-tested model that has been part of the US financial industry for over a century: the separation of exchange and custody. Our teams have worked closely together for nearly a year on stronger qualified custody models. Early in 2023, we recognized the opportunity to establish a Bitcoin-only custodian, combining the unique capabilities of each company and supporting the innovators that will be at the forefront of pushing Bitcoin adoption.\u201d<\/em><\/p>\n

BitGo stays a main custodian within the crypto house<\/h2>\n

This\u00a0latest cryptocurrency news<\/u><\/a> comes as BitGo continues to develop its presence within the cryptocurrency house regardless of the continued bear market. BitGo is among the custodians Swan employed for its Bitcoin storage wants.\u00a0<\/p>\n

Cory Klippsten, Swan\u2019s CEO, additionally commented that;<\/p>\n

\u201cWe immediately saw the vision,\u201d stated Cory Klippsten, Swan\u2019s CEO. \u201cFor years, we\u2019ve heard from major clients, partners, and other Bitcoin companies that they would prefer a Bitcoin-only software and services stack that is focused strictly on the best custody that leverages Bitcoin\u2019s unique features. It\u2019s important to us to build a custodian without the risks of securing many altcoins within the same trust company as Bitcoin. We want to do our part to build a dedicated ecosystem for Bitcoin, separate from industry speculators, to allow for innovation in custodial offerings.\u201d<\/em><\/p>\n

This newest improvement comes a few days after South Korean Hana Bank and BitGo introduced a partnership to\u00a0launch a joint crypto custody venture<\/u><\/a>. The three way partnership will mix Hana Bank\u2019s information of monetary companies and compliance with BitGo\u2019s crypto custodial options.<\/p>\n

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[ad_1] Key takeaways BitGo and Swan to launch a new trust company Crypto custodian BitGo and bitcoin monetary companies agency Swan have introduced plans to launch a Bitcoin-only trust company.\u00a0 According to the\u00a0press release printed on Thursday, the Bitcoin-only trust company will supply custody with out publicity to different digital currencies. The trust, which will 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