NewsletterElrond Puts Bitgo in Charge of Custody Support for Egold Token
Internet-scale blockchain company, Elrond, has placed BitGo in charge of custody support for its eGold (EGLD) token.
Digital asset trust company, BitGo, provides security, compliance, custodial, and liquidity services for institutional investors.
The news comes after Elrond announced its token — which allows holders to support the Elrond network and earn rewards — would be available on professional trading platform, eToroX.
Elrond CEO, Beniamin Mincu, said: “The scarcity and robust economics of eGold have made our token an attractive option for investors.
“Thanks to the collaboration with BitGo, eGold is now ready to serve as a vehicle for regulated institutional investors, and to be integrated into platforms adhering to strict regulatory standards.”
Elrond is working to improve efficiencies on blockchains by bringing a 1000-fold cumulative improvement in throughput and execution speed.
Its network can process up to 15,000 transactions per second with 6-second latency and minimal cost. Bitcoin and Ethereum can only process 7 and 14 transactions per second, respectively.
The company recently announced a digital wallet and global payments app dubbed Maiar, which will be released next year. With Maiar, Elrond aims to get global crypto adoption and will have similar functions to PayPal, Venmo and Google Play — but it won’t collect personal information from its users.
BitGo leads in digital asset financial services. The firm processes over 20% of all global Bitcoin transactions and supports over 300 coins and tokens.
Its customer base includes the world’s largest cryptocurrency exchanges and institutional investors and spans more than 50 countries.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Is Tether’s Stability at Risk? S&P Downgrades USDT Amid BTC Exposure Concerns
- Senate Targets Dec. 8 for Crypto Market Structure Bill Markup as Bipartisan Talks Gain Momentum
- Bitcoin Could See Huge Institutional Inflows as Nasdaq Boosts BlackRock IBIT Option Caps
- ‘Huge News’: Scaramucci Reacts as JPMorgan Files for Bitcoin-Backed Structured Notes
- Breaking: Grayscale Files S-3 to Convert Zcash Trust Into Spot ETF
- MON Price Prediction: Why Monad Could Be Heading Toward $0.10
- Will Hype Price Hit $50 as Whales Buy Ahead of the $314M Unlock?
- Is Bitcoin Price at Risk of Crash as Treasury Companies Plan Fire Sale?
- Binance Coin Price Prediction as VanEck Files Spot BNB ETF — Is $1,000 Next?
- Dogecoin Price Prediction: Will NYSE ETF Push DOGE to $0.30?
- Pi Coin Price Surges Above $0.25 Ahead of Major November 28 Announcement
