BitGo Increases Security Token Involvement, Partners with Blockchain Capital for BCAP Storage

BitGo Increases Security Token Involvement, Partners with Blockchain Capital for BCAP Storage

BitGo Trust Company has officially added support for the Blockchain Capital (BCAP) security token. BitGo now supports numerous security tokens with notably high value and considers security tokens an ‘increasingly important asset class’.


Blockchain Capital and BitGo’s Partnership Explained

Blockchain Capital is a tokenized Venture Capital (VC) firm based in California. The VC was co-founded by Brock Pierce, who has publicly shared his vision of security tokens bringing significant innovation to the capital markets industry.

Blockchain Capital’s security token— BCAP— was launched in April 2017. Each token represents shares in the Blockchain Capital III Digital Liquid Venture Fund. The fund typically invests in early stage companies that work with digital assets.

Now, BCAP will be secured by the regulated custody service of BitGo. Clients can store both their BCAP assets and they can also utilize a new multi-signature wallet designed for BCAP’s ERC-20 token.

According to Blockchain Capital co-founder Brad Stephens, BitGo was selected due to their reputation of prioritizing security while also remembering the end user:

“We wanted to ensure that our custody solution for BCAP would be completely secure while easy to manage. 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’s Growing Solutions for the Security Token Industry

BCAP isn’t the first security token to utilize BitGo’s custody solution. In late 2018, Harbor announced a partnership with BitGo.

Chief technology officer Ben Chan discussed BitGo’s growing interest in the security token industry:

“Security tokens are an increasingly important asset class for institutional investors and BitGo is here to support them. 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.”

BitGo features support for more than 100 cryptocurrencies and claims to store assets with a total value of over $2 billion.

TokenSoft also offers a regulated custody solution for security tokens.

For a complete overview of security tokens and their functionality, be sure to review our comprehensive security token guide.

What do you think about BitGo’s growing number of partnerships in the security token space? Will BitGo be the future of security token storage? Let us know what you think in the comments section below.


Image courtesy of BitGo.

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