PALO ALTO, Calif.--(BUSINESS WIRE)--BitGo is proud to announce its newest partnership with Kraken Bitcoin Exchange. Founded in 2011, Kraken is a leading bitcoin exchange recognized as one of the best and most secure by independent news media. As the leader in digital asset security, BitGo now integrates its multi-sig vault wallet system and robust security management controls with Kraken’s exchange.
Kraken had previously employed a custom off-chain, multi-party signing system with off-site components - providing many of the same security benefits as the BitGo integration. However, when it came time to rebuild the old system, going with BitGo’s ready-made alternative made more sense.
“While we’ve always prioritized security, this partnership allows us to free up valuable resources internally, and provide greater transparency and comfort to our clients. Anyone who needs to have custody of or escrow bitcoin would benefit greatly from BitGo’s highly capable team of industry veterans. I’m looking forward to what we do together next.” Jesse Powell - Co-founder and CEO, Kraken
As Bitcoin transaction volume continues to grow, the need for a deeply intelligent security solution becomes crucial. Transacting over $1B a quarter, BitGo’s Platform/API has certainly proven to be the most tested and most trusted security solution in the industry, especially among the big exchanges. It’s highly scalable (a single user can have hundreds of thousands of addresses) and notorious for its simple, straightforward implementation. BitGo is quickly gaining traction with users who had in the past been intimidated by multi-sig or who, like Kraken, find that it’s a better alternative to in-house solutions.
"We are very happy to add Kraken to the BitGo family of exchange partners. Kraken serves a vital role in the digital asset ecosystem by delivering the deepest liquidity in the BTCEUR market and many alternative cryptocurrencies. We look forward to their continued expansion and the innovation that their depth of experience brings to the table. Our team is passionate about preserving the safety and security of digital assets, and we are thrilled to be working with such esteemed veterans of Bitcoin." Jonathan Silverman - Director of Strategic Initiatives, BitGo.