BitGo clients can now trade without having to move their crypto onto an exchange.
BitGo, Inc., a provider of cryptocurrency security services, announced this Wednesday that it has teamed up with Genesis Global Trading, an over-the-counter (OTC) digital currency trading specialist to deliver a new service that will help institutional investors feel more comfortable entering into the nascent industry.
Under the agreement, institutional clients who store their digital assets with BitGo can now trade their crypto without having to move it onto an exchange. As part of the collaboration, Genesis will execute the trades on behalf of BitGo’s clients, without the need for them to open an account with the trading provider.
This collaboration enables BitGo's customers to trade their crypto without needed to move their coins from cold storage or offline. In addition, there are no additional fees for this service, the statement said.
Commenting on the partnership, Mike Belshe, the CEO of BitGo said: “Some custodians are choosing to sacrifice security and safety by enabling fast withdrawals from cold-storage which makes their clients more susceptible to hacking, false instructions, and theft."
“Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to Liquidity through Genesis’ robust network of trading partners. And that solves the real problem which is the need to access liquidity - not the need to speed up withdrawals.”
The partnership will allow BitGo’s institutional clients to have access to online, real-time pricing for buy and sell orders, execute transactions from cold storage without needing to manage any keys, access Genesis’ liquidity, which consists of a network of trading partners with same day settlement.
BitGo partnership brings traditional execution times to the crypto space
According to a report from CoinDesk, a news outlet specializing in Blockchain and cryptocurrency, the partnership between the two companies will allow traders to execute trades at the same speed they are accustomed to in the traditional financial markets.
This is achieved by resolving the time-lag cold storage issue as Belshe explains: “Because we have a BitGo Trust wallet ourselves, the coins are actually never leaving the BitGo system, just going from client to Bitgo to Genesis without ever being exposed to hot wallets and public blockchains.”
“BitGo has been a terrific, long-term partner to Genesis and we have a lot of confidence in their institutional offerings. We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition,” added Michael Moro, the CEO, Genesis.
BitGo, Inc., a provider of cryptocurrency security services, announced this Wednesday that it has teamed up with Genesis Global Trading, an over-the-counter (OTC) digital currency trading specialist to deliver a new service that will help institutional investors feel more comfortable entering into the nascent industry.
Under the agreement, institutional clients who store their digital assets with BitGo can now trade their crypto without having to move it onto an exchange. As part of the collaboration, Genesis will execute the trades on behalf of BitGo’s clients, without the need for them to open an account with the trading provider.
This collaboration enables BitGo's customers to trade their crypto without needed to move their coins from cold storage or offline. In addition, there are no additional fees for this service, the statement said.
Commenting on the partnership, Mike Belshe, the CEO of BitGo said: “Some custodians are choosing to sacrifice security and safety by enabling fast withdrawals from cold-storage which makes their clients more susceptible to hacking, false instructions, and theft."
“Our partnership with Genesis, a FINRA and SEC regulated company, gives our clients access to Liquidity through Genesis’ robust network of trading partners. And that solves the real problem which is the need to access liquidity - not the need to speed up withdrawals.”
The partnership will allow BitGo’s institutional clients to have access to online, real-time pricing for buy and sell orders, execute transactions from cold storage without needing to manage any keys, access Genesis’ liquidity, which consists of a network of trading partners with same day settlement.
BitGo partnership brings traditional execution times to the crypto space
According to a report from CoinDesk, a news outlet specializing in Blockchain and cryptocurrency, the partnership between the two companies will allow traders to execute trades at the same speed they are accustomed to in the traditional financial markets.
This is achieved by resolving the time-lag cold storage issue as Belshe explains: “Because we have a BitGo Trust wallet ourselves, the coins are actually never leaving the BitGo system, just going from client to Bitgo to Genesis without ever being exposed to hot wallets and public blockchains.”
“BitGo has been a terrific, long-term partner to Genesis and we have a lot of confidence in their institutional offerings. We are an industry leader in digital currency trading and lending, and providing liquidity for companies like BitGo is an important part of our value proposition,” added Michael Moro, the CEO, Genesis.
Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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