Monday, September 17, 2018

CEO BitGo: Bitcoin needs fresh capital, and wall street is already on the market!

The money of institutional investors is what Bitcoin and the industry as a whole need. However, the process of players coming from wall street to the market is delayed, while industry participants hoped for a more rapid development of events. This was stated by Mike Belshe, the head of the cryptocurrency startup BitGo, which at the end of the week launched one of the most promising services for large investors — custodian for digital assets. His words are quoted by news BTC.

Store crypto-currencies for institutional investors from BitGo has received permission to work from Department banking services to South Dakota and several other financial regulators of the United States. The service uses a system of multimedia, which in the early years refused most of the cryptocurrency exchanges, and will begin work in the next month.

When wall street comes to the crypto market
In the future, BitGo plans to obtain the status of a broker-dealer, and now the services of the project may be of interest to institutional investors in need of approved and strictly regulated financial products, Blanche said.

What Bitcoin needs? Fresh capital, including from major players from wall street, but the process of their entry into the market is delayed due to regulatory uncertainty and lack of reliable financial instruments. The launch and approval of our product makes me optimistic about accelerating the process of institutional investors ' entry into the market — perhaps this is the tool they have been waiting for.

Is it possible for one company to bring institutional investors to the stock market? Please share your comments in cryptodata of hontarov.

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