BitGo: Will create a joint venture with BiT Global to provide multi-jurisdictional custody for WBTC

ChainCatcher news, according to the BitGo official blog, BitGo and BiT Global are creating a joint venture to diversify the custody and cold storage business of WBTC across multiple jurisdictions, with BitGo becoming a minority shareholder in the new joint venture. This custody change will be seamless and transparent for the WBTC community, with a transition period of 60 days. The new solution will use the same BitGo multi-signature technology and cold storage technology that has been used to secure Bitcoin since 2019.

It is reported that BiT Global is a regulated trust and corporate service provider (TCSP) based in Hong Kong, with a strategic partnership with Justin Sun and the Tron ecosystem.