BitGo now lends Bitcoin, Ethereum and Litecoin

One of the largest custodians of digital assets, BitGo, has just announced the launch of a loan service in Bitcoin, Ethereum and Litecoin for its institutional clients.

In a press release, the American company revealed BitGo Lending, a crypto lending service built by "a team of Wall Street experts".

According to Nick Carmi, a former Deutsche Bank executive who oversees the effort, BitGo has already lent the equivalent of $ 150 million in Bitcoin, Dash, Ethereum, Bitcoin Cash, Litecoin and AnchorUSD.

Our goal was to create a lending business similar to that of lending businesses in traditional financial markets, ”he added.

Founded in 2013 in Palo Alto, California, BitGo has established itself as one of the largest cryptocurrency depositories on the planet today. The firm recently opened two new subsidiaries in Swiss and in Germany in order to accelerate the development of its activities in Europe.

BitGo has built a reputation as an industry leader in innovation, security and customer service, and we are now extending that expertise to BitGo Lending. We have merged the best of Wall Street and Silicon Valley, ”said Mike Belshe, CEO of BitGo.

Last month, BitGo also acquired Harbor, a company specialized in tokenization financial securities.