Unlocking New Dimensions in Blockchain Security and Governance

Introduction to the Alliance:

On February 28, 2024, BitGo Trust Company Inc., a global leader in digital asset security, announced a strategic move into the Hedera Council. This partnership not only highlights BitGo’s commitment to fostering blockchain innovation but also signals a vital step toward propelling the Hedera network’s future. With its inception in 2013 and serving over 1500 clients across 50 countries, BitGo introduces its secure digital asset custody and management expertise to Hedera’s decentralized platform.

BitGo’s Legacy of Digital Security:

BitGo has established itself as a cornerstone in the digital asset security sector since its inception in 2013. As a pioneer in the industry, BitGo introduced the multi-signature wallet, a game-changer for enhancing the security of Bitcoin transactions and digital assets​​.

BitGo’s Evolution:

Starting with the revolutionary multi-signature wallet, BitGo rapidly expanded its services to meet the growing demands of the digital asset economy. By 2018, it had launched BitGo Trust Company, becoming the first qualified custodian specifically designed for digital assets. This milestone was followed by the establishment of BitGo New York Trust in 2021, further cementing its role in regulated digital asset custody​​.

Expanding Services Beyond Custody:

BitGo’s offerings have evolved to include institutional-grade staking, DeFi, NFTs, and Web3 services. These expansions reflect BitGo’s commitment to providing comprehensive infrastructure solutions for the digital asset economy, supporting a wide array of institutional clients, including Fortune 100 companies, over 200 crypto exchanges, and various regulated entities​​.

Global Footprint and Institutional Trust:

With operations spanning over 50 countries, BitGo secures approximately 20% of all on-chain Bitcoin transactions by value. Its platform supports more than 700 digital assets, providing the operational backbone for over 1500 institutional clients worldwide. BitGo’s clientele includes major cryptocurrency exchanges, government agencies, hedge funds, asset managers, and ultra-high net worth individuals, underscoring its global impact and trusted reputation in the digital asset space​​.

Backed by Industry Leaders:

BitGo’s vision and technological advancements have attracted significant investments from industry giants such as Goldman Sachs, Craft Ventures, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. This backing not only highlights BitGo’s leadership in digital asset security but also its potential to drive further innovation in the blockchain and cryptocurrency sectors​​.

The Hedera Council: A Vision of Decentralized Governance:

The Backbone of Hedera’s Governance:

The Hedera Council is central to the governance and strategic direction of the Hedera network. This council is a testament to Hedera’s commitment to decentralization and diversity, consisting of up to 39 distinguished organizations from various sectors worldwide. These members play a pivotal role, running the network’s initial nodes and collectively deciding on the network’s software updates and service offerings.

A Spectrum of Global Leaders:

The Hedera Council boasts an impressive array of members, representing a wide range of industries including technology, telecommunications, finance, and education. Each member contributes their unique perspective and expertise, ensuring the network remains robust, secure, and forward-thinking. Notable members include: