The company operates a security-as-a-service platform that powers their online Bitcoin wallet and enterprise solutions for corporate treasury and key management.
The technology that BitGo has built, and what they're productizing into a broad services company, the way that BitGo works, is that they issue 3 keys. And you need 2 of those keys to unlock funds. Think of it like co-signing at a bank, you need 2 signatures by the principals of the company, or nuclear missile keys, you need 2 keys at the same time.
We think that Bitcoin is money, and since that it is money, it's really important to protect it. Who can use it? Consumers can use it who are making investments in Bitcoin, merchants can use it who are accepting Bitcoin as payments and want to store funds in their own accounts and financial services companies can use it if they're building out a hedge fund or trading platform around Bitcoin.
That's where the BitGo.com and CoinJolt partnership comes in, an investment platform specifically catering to cryptocurrency investors. What does the partnership mean? It means greater security in Bitcoin trading and will enable both companies to provide multi-signature blockchain based custodial services for USD and Bitcoin swaps, executed on CoinJolt's trading platform and this unveils the first zero fee digital currency exchange and did you know, that CoinJolt price index is the only global benchmark for accurate digital asset pricing?
This collaboration will CoinJolt to become the industry's first and only player to enable its clients to have hot and cold wallet storage built into each of their investment accounts. Now that market participants can now trade with the confidence of knowing the required collateral is in place which serves to create a safe and sound investment management platform and marketplace.
These are really great innovations in security for Bitcoin, this is the first time the block chain is serving as the collateral repository for an investment management company worth tens of billions of dollars.
This gives Evan Spiegel peace of mind that his institutional investment in Bitcoin are stored on the blockchain with the industry's best security technology and standards. According to Evan Spiegel, "CoinJolt's expansion plans include adding other cryptocurrencies in the near future."
The entire cryptocurrency or digital commodity space is an area that we think has a great deal of growth potential over the next many years and we're excited to be an essential part of the growth. This partnership with CoinJolt is definitely aligned with the direction of where cryptocurrency as an ecosystem is heading. It's for certain these days, Bitcoin is definitely maturing.
- Uses P2SH (BIP 16)
- Multi-Signature Wallets
- Will O'Brien
- Mike Belshe
- Ben Davenport
BitGo was founded in 2013.
On June 16, 2014, BitGo raised $12M led by Redpoint Ventures. 
- P2SH Addresses