The US cryptographic portfolio and the BitGo custody company have partnered with Genesis Global Trading, a digital asset trading company, to improve the cryptocurrency experience for its institutional investors.
Investors using the BitGo custody service can now trade their businesses directly from their BitGo deposit account, without the need to move resources into a stock exchange.
"Institutional investors want to put their resources at work and want security," said Mike Belshe, CEO of BitGo Bitcoin Magazine. "Up until now, they have had to compromise on one front or the other, choosing to exchange security for the speed of withdrawals from custody.Now, as a result of our partnership with Genesis, they have access to multiple trading venues. without ever having to move their resources from cold storage security ".
The partnership will allow BitGo's institutional customers to access instant prices for purchase and sale orders. For example, if an investor holds 250 BTC in deposit with BitGo, he can obtain real-time prices for purchase and sales orders, execute transactions from his BitGo account and have it settled on the same day.
In a statement, Belshe said: "Our partnership with Genesis, a regulated company of FINRA and SEC, offers our clients access to liquidity through Genesis's solid network of business partners, and this solves the real problem that is the need access to liquidity – not the need to accelerate withdrawals ".
The South Dakota Banking Division granted BitGo a card in September 2018 – an approval that allowed the startup to act as a qualified depositary of cryptocurrencies in the state.
Genesis, the subsidiary of the blockchain Digital Currency Group, offers over-the-counter trading to its investors and has become the first New York-based company to receive BitLicense.
Genesis Global Trading recently revealed that the company has seen a 50% increase in its OTC trading volumes for 2018, which shows that the company has not been shaken by the effects of the bear market started last year.