Revolutionizing Blockchain with Regulated Custody Solutions
The blockchain industry just achieved a significant milestone with the XDC Network’s recent custody partnership with BitGo Bank & Trust. This development addresses a critical challenge that has hindered institutions and enterprises from deploying capital on blockchain platforms.
BitGo and XDC Network: A Game-Changing Collaboration
BitGo Bank & Trust now delivers regulated Multi-Party Computation (MPC) custody for XDC tokens and USDC on the XDC Network. By ensuring compliance and security, this integration provides the infrastructure enterprises require to adopt blockchain without compromise. Institutional asset managers, exchanges, and corporates can finally onboard XDC with the same stringent security standards used for traditional assets.
How Regulated Custody Removes Barriers
The partnership is a game-changer for institutional blockchain adoption. Historically, custodial challenges have deterred financial institutions and payment platforms from embracing distributed ledger systems. However, BitGo’s MPC wallet system eliminates single points of failure by distributing cryptographic keys among multiple parties. This ensures both security and accessibility.
According to Amitava Mandal, Director of XDC Tech US, Inc., “BitGo’s custody is infrastructure that unlocks real enterprise deployment.” The partnership removes a significant blocker for trade finance and cross-border payment applications, positioning XDC Network as a leader in these fields.
Expanding the Institutional Use Case for Blockchain
By solving compliance and custody issues, XDC Network enables enterprises to transition from legacy financial systems to blockchain-based solutions. This opens up doors for trade finance, tokenized assets, and cross-border payment systems. With faster settlement times, lower costs, and increased transparency, XDC Network offers a viable alternative to traditional financial rails.
Why This Partnership Matters
This collaboration ushers in an era of institutional-grade custody solutions for blockchain assets. As a regulated entity, BitGo provides financial service providers with the custodial protections they are accustomed to, enabling secure custody of tokenized securities, trade finance instruments, and other digital assets within existing regulatory frameworks.
Are you ready to explore blockchain’s potential for your enterprise? To make your blockchain journey more accessible, check out BitGo’s Custody Services here. Embrace the future of finance today.
