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BitGo and Ripple join forces to make it easier for financial institutions and other customers to more securely hold XRP.
Today, BitGo announced that it will provide multi-signature security, advanced treasury management and additional enterprise functionality for XRP, which will be integrated into the BitGo platform this year.
BitGo’s mission is to empower businesses to integrate digital currencies into their existing financial systems securely and at scale. They process over $1 Billion in transactions per month and their customers include the biggest digital currency exchanges and applications in the world.
“It’s a natural fit. Both Ripple and BitGo are committed to making digital assets like XRP more accessible and usable for institutions,” notes Miguel Vias, Head of XRP Markets. “Working with BitGo is an important step to building out the XRP ecosystem that will serve the growing demand for global payments.”
“We are excited to be working with Ripple to provide enterprise tools and treasury management capabilities to institutions working with XRP” said Mike Belshe, CEO of BitGo. “The Ripple team understands crypto and traditional finance extremely well. They are well positioned to disrupt global settlement via blockchain and we are happy to play our part.”
XRP was created specifically for institutional settlement in seconds. As evidenced by R3’s recent trial with XRP for interbank cross-border payments, the use of Ripple and XRP can enable both cost-cutting and revenue opportunities for participating institutions.
Today’s news follows Bitstamp’s recent listing of XRP/USD and XRP/USD trading pairs. Bitstamp is also the first partner exchange for Ripple’s XRP incentive program which is designed to increase liquidity and tighten spreads. This program offers rebates and compensation to qualifying liquidity providers in XRP pairs at partner exchanges.
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