Recently, BitGo announced its support for two top digital currencies in the market. According to the official announcement by BitGo, Stellar Lumens and Dash will soon be supported by the platform. BitGo is a blockchain security firm that is based in California.
According to Mike Belshe, the CEO and founder of BitGo, both digital currencies were chosen because of their advancement in payment. Belshe said that dash focuses more on providing instant payments. He also said that their platform can access privacy payments, which Dash also offers.
Belshe added that Stellar Lumens had greatly contributed towards tokenization. Adding that XLM focuses more on global payments for customers.
Stellar (XLM) Price Today – XLM / USD
BitGo Provides Support for More Than 80 Digital Currencies
Thanks to its custody product, BitGo supports about 85 digital currencies. Some of the supported digital currencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Zcash (ZEC), and XRP (XRP). According to the announcement, Stellar Lumens and Dash will be added to the platform in the next few weeks.
BitGo Trust was recently announced by the firm. BitGo Trust is a custodian for cryptos approved by South Dakota’s financial regulators. According to Belshe, BitGo doesn’t trade with its platform. Rather, it offers securities and custodianship. He added that, in his view, the missing piece in the crypto space is custodianship.
BitGo Offers a Unique Custody Solution
Belshe also pointed out the difference between the custody solution provided by other firms and BitGo. According to Belshe, other platforms pay more attention to retail investors. They are focused more on signing up a large number of users every day. While this might be good for business, it has a common issue, and that is security.
Belshe said firms like this have a very small team handling the security of the platform. On the other hand, BitGo has a different focus, he said. BitGo has a dedicated development and research team. A team that is mainly focused on offering high-level security to any firm across the globe.
IBM Blockchain World Wire Increases the Adoption of Stellar Lumens
Stellar Lumens has seen a considerable level of increase in its adoption rate. What has greatly contributed to its adoption over the past months is the new international payment system of IBM – World Wire. IBM Blockchain World Wire uses the blockchain of Stellar Lumens (XLM) to process cross-border payments.
About IBM Blockchain World Wire
World Wire is a new financial system that settles and clears international settlements in near real-time. It can be integrated into your already existing payment system. It is also known to reduce cost and enhance