Netcoins Holdings Inc. (“Netcoins” or the “Company”) (CSE: NETC; OTC: GARLF; WKN: 1WJ) is pleased to announce that it has signed a definitive agreement with BitGo Trust Company as custodian for its Netcoins-branded custody solution. Following a software integration phase, Netcoins expects to launch Netcoins Custody in Q1 2019.
Custody is a key component of a full service crypto company and brokerage, and Netcoins has chosen BitGo, the market leader in institutional cryptocurrency financial services, to provide the back end technology and infrastructure required to launch Netcoins Custody.
BitGo provides institutional investors with security, compliance, and custodial solutions for blockchain-based currencies. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company has a customer base that includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. BitGo is backed by Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
“Netcoins wanted the most secure and compliant custodianship and, after evaluating several options, they chose BitGo Trust Company,” said Josh Schwartz, VP of Sales, BitGo. “We’re excited to be working with Netcoins to expand access to digital assets.”
“We are thrilled to be bringing institutional level crypto custody to the market in Canada with BitGo Trust Company, the first qualified custodian purpose-built for digital assets,” said Netcoins CEO Mark Binns. “Custody is a key component to institutional adoption, and also critical for enabling traditional brokerage houses to sell crypto to their retail investors. We continue to build a full service crypto company, and this is another big step forward for Netcoins.”