May 28, 2023

Litecoin Foundation Selects BitGo As Custody Service Provider

One of the largest providers of security and cryptocurrency storage services company BitGo will Collaborate with Litecoin Foundation as a custodian service provider.

This is stated in the message of the Litecoin Foundation on Twitter.

Additional agreement details neither LitecoinFoundation, nor BitGo have yet to be revealed. A number of media suggested that BitGo will offer custody services to Litecoin holders, but most likely this cooperation will not extend to ordinary users.

Note that in September 2019, the Litecoin Foundation entered into a partnership with the Celsius Network, choosing the latter as the manager of part of the organization’s assets.

In recent months, the Litecoin Foundationaccompanied by reports of financial problems, however, the organization was quite active. So, in August, she acquired a 10% stake in the German bank WEG Bank AG, and a few months later she sponsored the title fight of the mixed martial arts tournament, organized by the Ultimate Fighting Championship (UFC).