BitGo joins the Hedera Council, pledging to enhance the Hedera network with its digital asset security and trust expertise.
BitGo Trust Company Inc., a leading entity in the trust and security of digital assets, has announced its admission to the Hedera Board. This strategic partnership aims to support the progress and success of the Hedera network while fostering cutting-edge innovation in the digital asset space.
Founded in 2013, BitGo has solidified its reputation as an industry pioneer, serving over 1,500 customers worldwide in more than 50 countries. Known for providing secure hot wallets and regulated custodial cold wallets through a unified platform and API, BitGo’s expertise in digital asset security is unmatched.
Prior to this collaboration, BitGo had already made significant investments in engineering and product development to support the Hedera Token Service (HTS) and operates six mirror nodes on the Hedera network, which is known for its open source, leaderless proof-of-stake protocol.
As the 32nd member of the Hedera Council, BitGo joins a group of diverse, top-tier organizations that are collusion-proof and united in their commitment to network innovation and decentralization. The council’s role includes managing the initial network nodes and guiding Hedera’s software and service development through a democratic voting process.
Mike Belshi, co-founder and CEO of BitGo, expressed the company’s commitment to Hedera and the broader potential of blockchain technology, emphasizing the value of diverse, purposeful networks. BitGo’s long-standing leadership in Web3 has prepared it to collaborate effectively with other industry players for transformative change. The company is particularly excited about the prospects for future product development in the areas of real-world tokenization, settlement and payment solutions through its association with the Hedera Council.
BitGo’s robust security measures are now integrated to support HTS tokens on the wallet platform. With a customer base that spans 100 companies, government bodies and various financial institutions, BitGo is set to increase its influence in the Hedera ecosystem. The company plans to explore new opportunities to expand its offerings, including the Go Network for real-time USD and digital asset settlement.
Bill Miller, Chairman of the Hedera Membership Committee, praised BitGo’s extensive experience in product development, governance, regulations and market strategy, saying that this experience will be invaluable to the Hedera Council and the wider ecosystem. Hedera looks forward to the progress that BitGo’s participation will catalyze, in line with Hedera’s vision for a secure, scalable and sustainable network.
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