BitGo changed its plans for the future, which included the acquisition of BitGo. Instead, the startup will create its own Bitcoin storage capable of storing other cryptocurrencies as well.
A message concerning the wish to receive all the necessary official approvals necessary to launch the development of BitGo was published in the personal blog of BitGo. Permits are required due to a deposit-regulated organization that specializes in digital assets.
At the same time, the management of BitGo denied a transaction with the Kingdom Trust, one of the reasons for which was the purchase permission, which the company had not provided to the startup.
The current situation was commented on by the marketing vice president of the company, Clarissa Horowitz. She assures that the creation of a new BitGo storage is only aimed at the needs of users.
We spent a lot of time working with clients because it is they whom we intend to serve. We realized that this is best done with the Depository organization, which will be entirely focused on their assets. For this reason, we focused our attention on creating qualified and fully independent organization,” she said.
At the moment, the company does not specify the time of the launch of the project, but Horowitz says that BitGo has already started to closely cooperate with regulatory agencies in this direction.
We remind you that BitGo has already presented new features to users who are dedicated to asset management. So far, it is known that one new function is designed to safely store cryptocurrency, and another one is an alternative to asset management.