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NEAR Partnered With BitGo To Expand Investment Fields

BitGo, a digital asset infrastructure provider, will support the NEAR Foundation through crypto custody services.

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Digital asset custody company BitGo has agreed to support and custody of the assets of the NEAR Foundation, according to a notice posted on July 19.

Institutions holding can deposit and stake them through eligible wallets on BitGo. As part of the deal, BitGo will act as treasury custodian, holding assets in the company’s hot wallet and custody.

BitGo Product Vice President Nuri Chang said the company looks forward to supporting the ecosystem and noted that sharding technology makes the blockchain attractive to developers.

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CEO Marieke Flament also expressed the partnership with BitGo as proof of the organization’s commitment to expanding its ecosystem. She said:

“Our partnership with BitGo is proof of our commitment to widening our ecosystem and creating a more diverse community of users. This is a significant step for the ecosystem and its foray into the world of institutional investments.”

Founded in 2018 by Alexander Skidanov and Illia Polosukhin, NEAR Protocol is an open-source platform for decentralized applications. More than 300 applications are currently running on the ecosystem, used by a community of 200,000 users worldwide.

NEAR has also recently flourished with a 41.5% gain in 7 days currently, the token is trading at $4.578.

NEAR daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.