back Back

BitGo announces over $64b in Assets under custody and appoints Cassandra Lentchner as President of BitGo Trust Companies

By Edlyn Cardoza

November 16, 2021

  • AUC
  • Bitcoin
  • Bitgo

BitGo, Digital Asset, AUC, USABitGo, a leader in digital asset financial services, has exceeded $64 billion in digital assets under custody (AUC). As institutional interest in digital assets continues to grow and volumes on crypto platforms surge, top investors and crypto native firms are seeking institutional-grade custody and self-custody solutions alongside financial infrastructure to safely and securely transact, store and lend their digital assets.

“Institutional custody is not the same as retail custody,” said Mike Belshe, CEO of BitGo. “BitGo Trust Company was designed from the ground up to meet the needs of institutional investors, and it is the only independent qualified custodian focused on building the right market structure and facilities to enable institutions to enter the digital asset space with confidence.”

BitGo has also appointed Cassandra Lentchner as President of BitGo Trust Companies. Cassie joined the company as Chief Operating Officer in May 2021 with over 20 years of experience in the financial services industry. Cassie has built an exceptional reputation as both a regulator and as counsel for industry participants. She oversaw compliance and regulatory standards for New York’s groundbreaking BitLicense and cybersecurity policy, when serving as Deputy Superintendent of Compliance for New York Department of Finance Services (NYDFS).

BitGo Trust launched in 2018 as the first qualified custodian for storing digital assets, leveraging its technology to become the industry’s first platform to receive SOC 2 Type 2 compliance. BitGo Trust has qualified custodial entities in New York, Switzerland and Germany and acts as the custodian for WBTC, which has grown to more than $15 billion in custody and circulation.

“BitGo’s capabilities and track record as the most trusted digital assets partner are critical for large institutions and their clients to feel secure investing in cryptocurrencies and developing a vibrant digital economy,” said Cassie Lentchner, President of BitGo Trust.

BitGo’s commitment to serving institutional investors’ digital asset requirements started in 2013 with the launch of BitGo’s multi-signature wallets, and since then has expanded into a comprehensive suite of institutional-grade tools to securely store, lend, manage and trade digital assets. Today, BitGo is trusted by over 500 clients spanning 50 countries, including many of the world’s top exchanges and platforms such as Bitstamp, Nexo, and Pantera. BitGo remains the only service provider in the industry providing both qualified custody and self custody technology solutions to institutional investors, FinTech firms and crypto native platforms. BitGo is also the largest processor of on-chain Bitcoin transactions, currently accounting for approximately 20% of all on-chain Bitcoin transactions by value.

Previous Article

November 16, 2021

Colt Technology Services is the only communications provider in the world to have GDPR-compliant Binding Corporate Rules

Read More
Next Article

November 16, 2021

Worldline to offer cross-border solution suite in India

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024


Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 09, 2024

4 Sharia-based investment platforms for ethical investing in the UK

Read More

July 01, 2024

PortfolioCloud enters UK market through integration with Seccl

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024