May 21, 2024

BitGo Service Will Provide NEAR Foundation Custody Services

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BitGo Service Will Provide NEAR Foundation Custody Services

Digital asset storage company BitGo said it has entered into a partnership with Swiss non-profit organization NEAR Foundation.

NEAR Foundation will hold its assets inBitGo. Thus, institutions holding the NEAR crypto asset will be able to stake through BitGo hot and custodial wallets. BitGo Vice President of Product Nuri Chang said exchange and protocol developers will be able to launch NEAR support using BitGo's software wallets.

“We are also creating staking support ourselvesBitGo for NEAR. This means that customers can stake NEAR directly from their BitGo wallet with just a few clicks,” Chang said.

NEAR Foundation CEO MariekeMarieke Flament says the partnership with BitGo demonstrates the company's commitment to expanding its ecosystem. The open-source NEAR platform for decentralized applications was launched in 2018. Over the past year, NEAR has deployed a number of projects, particularly related to interconnectivity.

BitGo custodial service in 2020launched the BitGo Prime trading platform for institutional investors. That same year, the company announced the opening of regulated units in Switzerland and Germany. Earlier, in 2019, BitGo began providing custodial services for Europe's largest cryptocurrency exchange, Bitstamp.