PALO ALTO, Calif.--(BUSINESS WIRE)--BitGo, the leader in digital asset financial services, announced today, it was awarded a contract to custody digital assets for the U.S. Marshals Service (USMS). BitGo was selected for its institutional-grade qualified custody solutions.
Through BitGo Trust Company, based in South Dakota, the company will secure digital assets for the USMS with the highest level of security, regulatory oversight and operational efficiency.
“The team at BitGo is honored to be chosen as the partner for the US Marshals Service. We are committed to ensuring the digital assets of our partners are managed in the most secure way possible in order to fulfill the USMS mission of ‘Justice, Integrity, and Service’,” said Peter Najarian, Chief Revenue Officer, BitGo. “We see this as a validation of the financial infrastructure that we have built from the ground up since 2013 and our achievement to provide the most secure environment for digital assets in the marketplace today.”
In 2018, BitGo Trust Company became the first qualified custodian purpose-built for storing digital assets through the South Dakota Division of Banking. Built on BitGo's pioneering, multi-signature protocols, BitGo Custody delivers modern security for an emerging asset class. BitGo Custody offerings provide strict policies, procedures, and controls that are only offered through a qualified custodian.
In 2021, BitGo launched BitGo New York Trust to operate as an independent, regulated qualified custodian under New York State Banking Law.
BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions. In 2020, BitGo launched Prime Trading and Lending, as well as BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets and established BitGo New York Trust in 2021. BitGo processes over 20% of all global Bitcoin transactions, and supports over 400 coins and tokens. BitGo’s customer base includes the world's largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For more information, please visit https://bitgo.com
The information in this press release is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Custody services are offered through BitGo Trust Company, a South Dakota chartered trust company and BitGo New York Trust, a New York chartered trust company. BitGo is not registered with the SEC as an investment advisor or custodian, and does not offer legal, tax, investment, or other advice. Please consult your legal/tax/investment professional for questions about your specific circumstances.
BitGo Trust Company, BitGo NY Trust Company, BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA.