BitGo, a United States cryptocurrency custodian, has launched a regulated platform designed to custody and manage native tokens for Web3 protocols, according to a statement from BitGo shared with Cointelegraph on Sept. 16.
The custody platform enables crypto-native organizations such as foundations and protocols to programmatically manage native tokens for distribution to investors, employees, grant recipients, and other stakeholders, BitGo said.
Regulated digital asset custodians are gaining traction in the US among investment managers and fund issuers but Web3 protocols generally still self-custody tokens in on-chain wallets or smart contracts.
By “cobbling together a non-custody wallet solution, a smart contract for distribution, and yet another provider for custody” Web3 protocols introduce “unnecessary pain and complexity, with gaps in security, compliance, and transparency,” BitGo said.
BitGo’s token…
