enterprisesecuritymag

BitGo Announces Custody Support for BCAP- Blockchain Capital's Security Token

By Enterprise Security Magazine | Friday, March 22, 2019

BitGo, the global leader in digital asset financial services announces the support for BCAP ERC-20 token from Blockchain Capital. In addition to the multi-signature wallet security, BitGo users will now be able to hold their BCP assets using BitGo Trust firm, a qualified custodian that offers compliant custody for the security tokens.

“Security tokens are an increasingly important asset class for institutional investors, and BitGo is here to support them,” said Ben Chan, Chief Technology Officer, BitGo. “As a qualified custodian, we recognize how critical compliance is for our clients, and we’re pleased to be able to provide custody services that are compliant with securities regulations. This is a major step forward for mainstream adoption.”

The US-based firm, Blockchain Capital introduced BCAP in April of 2017 when they launched their first ever tokenized investment and which was industry’s first security token. The BCAP shows an indirect economic interest in the limited partnership interest in the tokenized investment fund. The certification of the BCAP token is that holders can trade their tokens on secondary trading platforms in a manner that is compliant with applicable securities regulations thereby giving holders exposure to early-stage venture capital assets which will also benefit them by providing the opportunity for liquidifying those assets.

"We wanted to ensure that our custody solution for BCAP would be completely secure while easy to manage," said Brad Stephens, Co-Founder and Managing Partner of Blockchain Capital. "When we compared custody offerings, BitGo's solution was far ahead of the other options in both design and security, so we're excited to partner with them."

BitGo is the world’s largest on-chain bitcoin transactions which process 15 percent of all global Bitcoin transactions, and $ 15 billion per month across all cryptocurrencies. It is believed that the company supports over 100 coins and tokens, and has over $2billion in assets in the wallet.

Established in 2013, Blockchain Capital had an aim to help entrepreneurs build world-class companies and projects based on the blockchain innovation and providing the founders with the tools they require- capital, partnership, domain expertise, and strategy. The firm is among the most active venture investors in the blockchain industry and has financed more than 75 companies since its inception.