BitGo for Work: Multisig Wallet Pioneer Launches Solution for Organizations

BitGo has launched a solution that streamlines the management of wallets within an organization.

BitGo, one of the early pioneers in multisignature wallet technology, has launched a solution that streamlines the management of wallets within an organization.

BitGo Organizations allows a business’s owners to create wallets, add additional owners and control administrative functions. BitGo would bill the client company based on a pay-per-user model. There are also premium plans available for $500 and $1,500 per month, the latter including additional support through an account manager.

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Custom plans with API rates of up to 15/sec and guaranteed uptimes of 99.99% are also available.

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Multisignature wallets require more than one key to sign a transaction. For example, a 2-of-3 key scheme requires any two of the three valid keys. Such implementations, especially when implemented through the right enterprise systems and when employed with best security practices, make it impossible for any attacker to succeed.

When BitGo first launched its multisignature solutions last year, they also included features like corporate treasury functions, key management and reporting. The latest completes the package, combining the enterprise functions with reporting, loss protection and API access.

BitGo’s wallets are now employed by numerous bitcoin exchanges and businesses, and have yet to be compromised by an attacker.

One month ago, the startup reported its having processed $1 billion worth of transactions in a single quarter.

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