Every business owner knows what bitcoin is but do they understand how to use it?
For a large portion, the answer is no. Crypto’s a vastly complicated landscape, leaving many who wish to invest either too wary of security risks or unable to achieve functional scale.
That could soon be a problem of the past, if BitGo has anything to do with it. Since it was founded in 2013, BitGo has aimed to make digital assets usable for businesses operating in a regulated economy.
Offering security and scalability in the crypto space is its top priority, BitGo CEO Mike Belshe told TheStreet. Their cutting-edge multi-signature technology safely distributes key materials to exchanges and processors, and more recently, to asset and fund managers.
“We cut our teeth on the bitcoin side of things,” Belshe said. But now, the platform supports six of the most widely used cryptocurrencies.
The multi-sig technology means that each digital asset has three keys, Belshe explained. The customer holds one of the keys, a third party key recovery service holds another and BitGo holds the third. That makes the asset non-custodial to BitGo and means BitGo can’t move any assets without compliance from the customer.