Crypto News :
Genesis and BitGo Trust have announced a partnership to provide qualified custody services and cold storage for institutional clients in the United States.
The move comes as regulation continues to tighten in the US, with both companies aiming to bring traditional methods of security to the crypto ecosystem.
BitGo Trust will provide qualified custody services and cold storage for assets held on behalf of Genesis’ institutional clients.
The partnership seeks to combine security with deep liquidity and trading expertise. Adam Sporn, Head of Prime Brokerage at BitGo, highlighted the importance of segregating responsibilities between institutions to minimize counterparty exposure.
The two firms had previously collaborated in 2019 to provide trading services from custody accounts.
Custody security and regulation concerns have increased since then, but both companies remain confident in their compliance and transparency.
BitGo Trust holds SOC 1 Type 2 and SOC 2 Type 2 certifications and offers a $250 million insurance policy, as well as compliance tools to measure risks associated with technology solutions.
