BitGo, a specialist in digital asset financial services, has launched the first institutional-grade wallet and custody solutions, providing on-chain, multi-signature security for TRON’s TRX token. TRON will also be using BitGo as its custodian.
“BitGo is a trailblazer and well-known marker of quality for the digital assets industry,” says Justin Sun, CEO, TRON. “Together we are manifesting the next chapter of blockchain and financial services. We are proud of this partnership and the value it will provide to the entire industry.”
BitGo enables businesses to integrate digital assets into their investment portfolios securely and at scale with 100 per cent multi-signature technology across over 200 coins and tokens.
BitGo pioneered multi-signature security in 2013 and, since then, it has become an industry standard for security of digital wallets. Multi-signature is an open source protocol, and has been through thorough testing and evaluation by the security community. Multi-signature makes use of distinct private keys specifically assigned to individuals for increased accountability, transparency and security not available through other technologies.
“We worked with TRON’s development team to develop their first multi-signature, institutional-grade wallet,” says Benedict Chan, CTO, BitGo. “TRON’s move towards on-chain multi-signature opens the door for financial services clients. Fiduciaries, who are responsible for other people’s money, demand the highest levels of security and compliance.”
TRONIX is a MainNet token based on the TRON Protocol issued by TRON Foundation, known as TRX. TRX is the basic unit of accounts on the TRON blockchain. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with abundant application scenarios that power transactions and applications on the chain.