Popular digital assets custodian BitGo has launched the first fully automated custody solution, which will allow projects to manage all aspects of their tokenomics from a single platform.
BitGo, a leading crypto custodian, announced the launch of its first-of-its-kind automated custody solution aimed at streamlining token management processes for decentralized protocols, projects, and foundations. While BitGo is already in the custody business, this solution takes its digital asset custody-related developments one step further.
Unlike previous solutions, this is geared to automate numerous processes for decentralized projects. As regulations evolve worldwide and best practices become evident, centralized businesses like exchanges and fund managers dealing with crypto have already begun storing their assets with custodians. However, those dealing with operations completely on-chain have yet to take the custodian approach.
“Projects find themselves cobbling together a non-custody wallet solution, a smart contract for distribution, and yet another provider for custody. The result? A disjointed, inefficient process that only solves independent pieces of the puzzle: custody, management, or distribution — never all three,” BitGo said in its announcement.
Its solution stands out in that it goes beyond custody. BitGo’s automated solution can handle everything from token management to tax reporting. That engenders scenarios like projects scheduling token uploads via BitGo, using its solution to program token vesting schedules, paying employees and stakeholders, and issuing grants. And all of that occurs through a single platform.
Well-known platforms like Worldcoin, ZetaChain, SUI, and LayerZero already use this solution. “This platform isn’t just a tool; it is the solution that finally solves the token management challenge at scale,” BitGo said.
BitGo Offers $250 Million Insurance to Its Clients
Being a registered custodian in the US also brings numerous other benefits like the $250 million insurance BitGo offers to safeguard assets during exploits and internal mismanagement.
