Palo Alto-based crypto custody startup BitGo announced this week that it has launched staking for Dash (DASH) and Algorand (ALGO), with support for additional coins planned for later this year.
According to the announcement, the launch of BITGO Staking follows the acquisition of Hedge, a provider of tech for the scalable, programmatic deployment of staking infrastructure. BitGo notes that with the new functionality, clients will have the option to choose to delegate staking to BitGo or to the provider of their choice.
Both the Dash and Algorand teams expressed excitement in the new support from BitGo, with both teams’ leadership commenting on the launch.
“Building trust in cryptocurrency is a shared mission between BitGo and Dash, which led to our initial partnership last year,” said Dash Core Group CEO Ryan Taylor. “Dash support in BitGo Staking builds on this relationship and provides additional ways to derive value from Dash in a safe and secure environment. We’re thrilled to be a part of BitGo Staking’s inaugural launch and expect masternode owners will be as well.”
W. Sean Ford, COO of Algorand, Inc., added, “By providing custodianship services with multi-sig security as well as new staking opportunities, the BitGo partnership adds even more opportunities to participate in the Algorand ecosystem.”
BitGo has been adding out new financial services to bolster its custody offerings. Earlier this year, BitGo partnered with Genesis Global Trading, an OTC digital currency trading firm, to allow clients to buy and sell digital assets directly from the security of their BitGo Trust cold storage account.
More: BitGo Staking Launches with Dash and Algorand
Related: Coinbase Hires AWS Veteran to Lead Staking Development
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
