BitGo Crypto Company Starts Accepting Fiat Deposits
BitGo provided an opportunity for institutional clients to deposit funds in fiat using bank transfers, as reported on the crypto company's blog.
The BitGo startup launched the BitGo Trust service. It will significantly speed up financial transactions and make it easier for customers to work with fiat funds. Institutional customers who own fiat will be able to buy and sell digital assets directly using their BitGo Trust accounts. Monetary deposits can only be made in US dollars.
Due to the lack of fiat accounts, crypto traders had to regularly transfer funds to fulfill the purchase order. This procedure took a lot of time and was inconvenient because traders relied on the accounts of third party organizations. Besides, there were delays in transactions, which led to the risk of volatility.
Now BitGo clients have access to liquidity through a network of trading partners. The OTC services firm Genesis Global Trading, which will provide institutional investors with access to high-speed crypto trading, was among the first.
As previously reported, the Insolar blockchain startup successfully launched a high-speed testnet with a throughput of over 10,000 transactions per second.