BitGo Will Add Support For Tron Later This Year

BitGo, an extremely well-known crypto services firm that is often known to manage crypto investments at an institutional level, has, according to a recent press release, decided to add custody and wallet support for cryptocurrency Tron or TRX. This announcement was made public on the 20th of February, 2019.

According to reports, BitGo’s integration of support for Tron will not come immediately. Crypto enthusiasts, especially institutional investors, will have to wait for a while as support will be made available for use by institutional investors by the end of this year. BitGo already supports over one hundred different virtual assets on its platform. Tron, the ninth largest crypto in terms of market cap, will soon join all of them later this year.

Reportedly, BitGo is the firm that boasts of being the largest processor of on-chain Bitcoin (BTC) transactions. Of all the Bitcoin transactions that take place globally, a major chunk, about 15 per cent, is handled by BitGo. In a month, the firm processes cryptocurrencies worth a whopping 15 billion dollars. The company’s wallet service is also a thriving portion of its business, having digital assets worth more than the massive figure of 2 billion dollars under its management.

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Earlier this week, BitGo also decided to start offering crypto insurance for virtual assets held in its Business Wallets and custodial offering service by partnering up with the Lloyd’s of London. According to reports concerning that integration, Business Wallet and Custodial Offering users will be able to avail of the insurance if they lose their private keys because of theft or hack, caused by either insiders or third parties. The service will also be available in case of physical damage or loss of the private keys saved in a device or a paper wallet.

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