BitGo will provide secure storage of cryptocurrencies on trading exchange, including deposits on lending service, DCXLend
CoinDCX, India’s largest and safest cryptocurrency exchange and liquidity aggregator, announces BitGo, the leader in digital asset financial services, as its custodian. As the custodian of CoinDCX, BitGo will provide the secure storage and custodianship of cryptocurrencies held on CoinDCX, fully insured and protected by BitGo’s $100 million insurance policy. CoinDCX began transferring assets to BitGo’s wallets last week.
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On the integration of the custodial services, Sumit Gupta, CEO and Co-founder of CoinDCX said: “The purpose of the #TryCrypto initiative is to promote widespread crypto adoption, which includes ensuring users that their funds are in safe hands. CoinDCX has always maintained that crypto adoption should be safe, secure, and simple for everyone. CoinDCX has taken yet another stride in consolidating our position as a trusted and secure brand. With the custodial services of BitGo, we want to make cryptocurrency utilization in India, safe and secure”
BitGo is one of the largest and most established custodians for digital assets and the only qualified custodian purpose-built for digital assets and cryptocurrencies. With BitGo Custody, cryptocurrencies on the CoinDCX exchange will be secured on the omnibus and segregated hot and cold wallets with two-factor authentication for all accounts. A fraction of the funds traded on the CoinDCX exchange will be protected by BitGo’s $100 million USD insurance policy, including users’ cryptocurrencies held on DCXLend, CoinDCX’s lending service.
BitGo’s customer base includes the world’s largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. BitGo supports over 250 coins and tokens and processes over 20% of all global on-chain Bitcoin transactions. One of BitGo’s most significant innovations was perfecting and pioneering multi-signature security in 2013, when exchanges were a handful and most of the world had yet to hear of Bitcoin.
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