BitGo Unveils Token Management Service
Cryptocurrency custody firm BitGo is offering foundations and organizations a simplified way to manage the lifecycle of digital assets they issue, with protocols like Worldcoin, LayerZero, Sui and ZetaChain among the first customers of the service. BitGo says it's filling a gap in a fragmented market, with a one-stop, regulated and insured custody platform for seamless digital asset vesting, unlocking and on-chain activities.
Addressing Token Management Challenges
The Web3 world has evolved far beyond straightforward digital asset transactions on a blockchain into a programmable economy where, with just a few lines of code, new protocols can be concocted, tokenomics invented and tokens minted. This leads to a situation where protocol builders are primarily focused on refining technical details around tokenomics, validator steps and so on, while looking to grow adoption and justify the value proposition they gave to their venture-capital backers, said Thomas Chen, head of sales at BitGo.
Key Customers Onboard
Big names like Worldcoin and LayerZero are among the first customers of the Token Management Service, announced on Monday. The custodial token management service uses the regulated confines of BitGo Trust, the firm's qualified custodian offering, aiming to provide a seamless solution for token management tasks.
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