BitGo

BitGo, Inc. is a digital asset trust company and security company, headquartered in <a href="/facts/Palo_Alto,_California/KJpC7kd8">Palo Alto, California</a>. It was founded in 2013 by <a href="/facts/Mike_Belshe/qYYYNwlo">Mike Belshe</a> and Ben Davenport. Galaxy Digital announced its acquisition of BitGo in 2021 for $1.2 billion, although this acquisition was announced to have been canceled in 2022 after the crypto downturn, with BitGo continuing as an independent company.
The company offers a <a href="/facts/Multisignature/CaVwqAMy">multisignature</a> <a href="/facts/Bitcoin_wallet/UJvqfray">bitcoin wallet</a> service, where <a href="/facts/Cryptographic_key/5W5PAmT4">keys</a> are divided among a number of owners to manage risk. Generally, BitGo wallets have three keys: one held by BitGo, and two held by the wallet's owner. Wallets can be configured in both hot and cold configurations, as well as non-custodial and custodial configurations.
BitGo also serves as the sole custodian for <a href="/facts/Bitcoin/UJvqfray">bitcoin</a> that people deposit to receive a tokenized form of that bitcoin known as Wrapped Bitcoin or WBTC that can be exchanged on the <a href="/facts/Ethereum/6RfpJ46R">Ethereum</a> blockchain.

BitGo open-in-new

BitGo