**BitGo Trust to Provide Cryptocurrency Custody Services for Genesis’ Institutional Clients**

It is reported that BitGo Trust, a cryptocurrency custody company, will provide qualified custody and cold storage services for assets held by institutional clients representing Genesis. BitGo provides $250 million in insurance and holds SOC 1 Type 2 and SOC 2 Type 2 certifications, as well as compliance tools to measure the risks associated with technology solutions.

Genesis collaborates with BitGo Trust to develop agency hosted products

The rising demand for cryptocurrencies has brought the need for safe and secure storage solutions into the spotlight. As institutional investors flock to the cryptocurrency market, the requirement for a trustworthy and reliable cold storage option has become paramount. In response, BitGo Trust, a leading cryptocurrency custody company, announced that it will provide qualified custody and cold storage services for assets held by institutional clients representing Genesis.

The Growing Demand for Safe and Secure Cryptocurrency Storage Solutions

Cryptocurrencies’ underlying technology, Blockchain, is incredibly secure, but it is still vulnerable to theft, hacking or loss of access. The decentralized and unregulated nature of the cryptocurrency market makes it tough for investors to find trustworthy storage solutions. Hence, the emergence of cryptocurrency custody services, which are off-site storage solutions, equipped with insurance and institutional-grade security protocols to protect investors’ digital assets.

BitGo Trust – Leading Cryptocurrency Custody Services Provider

BitGo Trust is a reliable, secure, and transparent provider of blockchain and cryptocurrency finance services. The company offers advanced crypto custody solutions for institutional investors, including cold storage, multi-signature wallets, and portfolio management. BitGo Trust is widely considered one of the most trusted names in the cryptocurrency custody space, given its experience and the rigorous measures that it has put in place to protect its clients’ assets.

BitGo Trust to Offer Qualified Custody and Cold Storage Solutions for Assets Held by Institutional Clients Representing Genesis

BitGo Trust’s announcement that it will provide qualified custody and cold storage services for assets held by institutional clients representing Genesis could redefine the cryptocurrency custody space. Genesis, a digital asset trading platform, had previously provided its clients with custody services. However, with BitGo Trust’s support, Genesis clients can now access more advanced cold storage solutions with SOC 1 Type 2 and SOC 2 Type 2 certifications, compliance tools, and $250 million in insurance.

Taking Crypto Security to New Heights with BitGo Trust

BitGo Trust is known as a leader in the cryptocurrency space and for good reason. The company’s security measures previously helped it win over customers such as Kraken, the world’s largest cryptocurrency exchange, and hedge funds like Pantera Capital. BitGo Trust employs a few different methods to ensure that its customers’ assets remain secure, including multi-signature wallets, cold storage and SOC 1 Type 2 and SOC 2 Type 2 certifications.

SOC 1 Type 2 and SOC 2 Type 2 Certifications

Both SOC 1 Type 2 and SOC 2 Type 2 certifications are procedures for auditing and testing companies’ security procedures. An accredited auditor performs these audits to verify that the company’s control measures and security policies are operating correctly. These certifications are critical because they demonstrate that a company takes its cybersecurity measures seriously and has met stringent standards.

Compliance Tools to Measure Risks Associated with Technology Solutions

BitGo Trust provides a range of compliance tools to measure the risks associated with technology solutions. This is especially important given the increasing regulatory scrutiny that cryptocurrency companies are currently facing. BitGo Trust’s risk management tools help ensure that clients’ digital assets adhere to the required regulatory framework, adding an additional layer of security to the custody process.

Conclusion

BitGo Trust’s announcement that it will provide qualified custody and cold storage services for assets held by institutional clients representing Genesis is a significant step forward for the cryptocurrency custody space. The increasing demand for cryptocurrency custody has led to an increased focus on security protocols and insurance, making BitGo Trust’s services highly desirable. With SOC 1 Type 2 and SOC 2 Type 2 security certifications and $250 million in insurance, BitGo Trust is positioned to meet the high expectations of crypto investors.

FAQs

Q1. How does BitGo Trust ensure the security of its clients’ digital assets?
BitGo Trust employs multi-signature wallets, cold storage, and SOC 1 Type 2 and SOC 2 Type 2 security certifications as measures to ensure the security of its clients’ digital assets.
Q2. What are SOC 1 Type 2 and SOC 2 Type 2 certifications, and what do they signify?
SOC 1 Type 2 and SOC 2 Type 2 certifications are auditing procedures that verify a company’s control measures and security policies to ensure they meet stringent standards. BitGo Trust has received these certifications, assuring its clients that they have met very high levels of security.
Q3. What do the compliance tools offered by BitGo Trust do?
BitGo Trust’s compliance tools help ensure that clients’ digital assets adhere to the required regulatory framework, adding an additional layer of security to the custody process.