BitGo Launches Cryptocurrency Lending Service for Institutional Investors

BitGo has launched a cryptocurrency lending service for institutional investors with supportBTC, ETH, LTC, BSH and DASH.

BitGo Finance Manager Nick Carmi(Nick Carmi) reported that the service was launched after closed beta testing, which lasted for several months. The new product is developed by analogy with lending services operating in traditional financial markets. The BitGo offer includes fully secured loans, detailed individual reports, and the ability to work with the regulated custodial unit of BitGo Trust.

BitGo lending service will supportMore than 15 different digital and fiat currencies, including BTC, ETH, LTC, BSH, DASH, as well as some stablecoins. Carmi added that Wall Street invested in investing directly with institutional investors working on the new BitGo product, so the service is focused only on companies and BitGo does not plan to provide such services to individuals.

In May, the BitGo custodial service launched a newa clearing and settlement system for its institutional clients, which allowed them to reduce risk and allocate their capital more efficiently. Last month, BitGo opened regulated units in Switzerland and Germany.

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