According to the CEO of the financial and custodial company BitGo at the CoinDesk Invest: NYC conference, the service processes more than 20% of bitcoin transactions.
Such a statement means that a significant proportion of transactions within the network pass through the company’s services, which indicates a certain degree of consolidation in the cryptocurrency industry.
In addition, this raises the question of a market crash: if BitGo crashes, will the assets processed by the company be in danger? BitGo CEO Mike Belshe is sure there is nothing to fear.
“The main thing that we are doing is trying to eliminate common points of failure,” said Belsh.
According to him, the BitGo multi-signature system protects assets, and even if the security of one of the levels is compromised, customers will still own the keys.
Belsh also noted that the growth of the BitGo customer base is related to the quality of the multi-signature system ensuring asset security:
“Our customers always control their assets regardless of circumstances. “BitGo is a reliable partner that aims to make the digital asset market bigger, stronger and safer every day.”
Recall that in the middle of last month, BitGo announced the beginning of support for TRX, and earlier it was reported that the service began to provide custodial services for the largest cryptocurrency exchange Bitstamp in Europe.
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