RATE Group | BitGo Now Providing Custody for India’s Largest Crypto Exchange
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BitGo Now Providing Custody for India’s Largest Crypto Exchange

16 May BitGo Now Providing Custody for India’s Largest Crypto Exchange

Posted at 06:57h in Cryptocurrency News by

BitGo is now providing its custody services to India’s largest cryptocurrency exchange by trading volume, CoinDCX.

Announced Thursday, BitGo began storing cryptocurrencies held by CoinDCX last week with the aim of ensuring the assets are kept “safe and secure.” The custodial services extend to deposits at the exchange’s lending arm, DCXLend.

Custodied funds are protected in the event of an exchange hack or theft by BitGo’s $100 million insurance coverage, the companies said. The policy is provided by a syndicate of insurers within the centuries-old insurance marketplace Lloyd’s of London.

CoinDCX will utilize the custodian’s omnibus, or mixed, and segregated hot and cold wallets with two-factor authentication across all accounts.

“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,” Sumit Gupta, CEO and co-founder of CoinDCX, said…

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