Nexo Teams up with Qualified Custodian BitGo to Ensure Security of Clients’ Crypto Assets
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Market leader and multi-signature technology pioneer BitGo henceforth holds clients’ crypto assets for Nexo, the world’s first instant crypto-backed loans provider, ensuring a peace of mind for investors and clients alike.
Nexo’s platform went live on April 30, 2018, following an 11x oversubscribed Public Pre-Sale and over $1bn in requests for early access to Nexo’s loans.
BitGo’s track record has been impeccable in terms of safeguards against security breaches, implementing the Cryptocurrency Security Standard (CCSS) Level 3, an open standard that focuses on the cryptocurrency storage that is currently the go-to standard for any information system that handles and manages crypto wallets as part of its business logic.
BitGo provides secure wallet and custodian services for other leading blockchain enterprises like Kraken, CME Group, Pantera Capital, and UPbit.
Processing over $10 billion in transactions per month, BitGo will help Nexo scale as an ever-growing number of clients get instant access to cash via Nexo’s instant credit facility.
BitGo provides a multi-sig wallet featuring robust business rules for co-signing like rate limits, address whitelists, webhooks, secondary approvals, and others. It further builds private blockchains used in custom asset digitization and decentralization solutions. BitGo’s API allows clients to build proprietary-level bitcoin applications retaining full control over their keys and transactions, a great enhancement to the user experience for Nexo clients.
About Nexo
Nexo is the most advanced platform for instant crypto loans, and the only blockchain company to provide its services in 40+ fiat currencies and more than 200 jurisdictions. Nexo allows digital asset holders the best of both worlds — instant access to cash and retaining ownership of their assets. Its global operations are powered by the profound lending experience of Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years.
For more information, please visit: www.nexo.io
About BitGo
BitGo is the market leader in institutional cryptocurrency financial services, providing clients with security, compliance, and custodial 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 100 coins and tokens, and has over $2 billion in assets in wallet. 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, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
For more information, please visit https://www.bitgo.com
