Sustainable Bitcoin Protocol Partners with BitGo to Launch the First Sustainable Custody Solution for Bitcoin

By Business Wire On Mar 24, 2023

Sustainable Bitcoin Protocol (SBP) partners with BitGo, the leader in digital asset security, custody, and liquidity to launch the first-ever sustainable custody solution for Bitcoin. The new offering aims to address the increasing demand from ESG and climate-focused institutional investors who want to hold Bitcoin but are concerned about its climate impacts.

“We are thrilled to partner with BitGo to launch the first-ever sustainable custody solution for Bitcoin,” said Brad van Voorhees, CEO and Co-founder of SBP

SBP has developed a first-of-its-kind solution that enables investors to hold Bitcoin in a verifiably climate-positive way through its innovative product, the Sustainable Bitcoin Certificate (SBC). SBCs are on-chain assets that represent sustainable Bitcoin mining and can be added to the holdings of a Bitcoin investor, 1:1, ensuring that they are sustainably holding Bitcoin without disrupting its fungibility.

As part of the partnership, BitGo will offer SBC custody to their current institutional and platform clients as a key differentiator. The new partnership also aims to develop a “Proof of Sustainability API” where investors can demonstrate their green credentials by holding an equal number of BTC and SBC in BitGo custody, meeting the increasing demand for transparency in digital assets.

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“We are excited to partner with SBP to offer our clients a solution that addresses their concerns around Bitcoin’s environmental impact while incentivizing verified clean energy use in bitcoin mining,” said Steve Scott, Director at BitGo. “This collaboration allows us to offer the most secure and sustainable Bitcoin custody solution on the market, providing our clients with a way to hold Bitcoin that aligns with their investment strategies and values.”

The partnership with SBP is intended to elevate BitGo’s current platform by creating an unparalleled combination of secure custody, institutional service, and sustainability. The new offering builds on BitGo’s reputation for providing the most secure and scalable solutions for the digital asset economy, offering regulated custody, staking and trading, and core infrastructure to investors and builders alike.

“We are thrilled to partner with BitGo to launch the first-ever sustainable custody solution for Bitcoin,” said Brad van Voorhees, CEO and Co-founder of SBP. “This collaboration is an important step forward in making Bitcoin a more sustainable asset class and enabling investors to hold Bitcoin in a climate-positive way.”

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