RATE Group | Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto
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Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto

15 Sep Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto

Posted at 00:39h in Cryptocurrency News by

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Two US-based crypto behemoths, Coinbase and BitGo, will continue to facilitate growing demand for Bitcoin from institutional investors by operating as trusted custodians.

Earlier this week, BitGo was approved by South Dakota regulators to create and operate a crypto custody solution, while Coinbase established a new office in New York exclusively to handle institutional demand into the market.

Bitcoin Needs Fresh Capital, Institutional Demand Will do it

In an interview with CNBC Fast Money, BitGo CEO Mike Belshe stated that the cryptocurrency market needs fresh capital to initiate a new mid-term rally and properly recover from its 80 percent correction in 2018.

Belshe said that the market has not seen many new buyers emerging in the past eight months. But, with the introduction of several crypto custody solutions offered by BitGo, Coinbase, and…

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