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HTX Backs Cold Storage and Automation in BitGo Deal to Attract Institutions
- HTX, a global cryptocurrency exchange, partners with BitGo Singapore to enable off-exchange settlement through the Go Network, keeping assets in custody with BitGo.
- HTX is expanding services for institutional users with various investments made in DeFi, infrastructure, Bitcoin, AI, and newer sectors like DePIN and SocialFi.
- Assets under the partnership are held in cold storage under the regulatory oversight of the Monetary Authority of Singapore, ensuring reduced counterparty and operational risks.
- BitGo Singapore holds a Major Payment Institution license, providing insurance coverage of up to $250 million for custody assets in segregated accounts, separate from HTX's balance sheet.
- Automated settlements in the partnership streamline post-trade processes, offering clients flexibility and efficiency in fund deployment while managing settlement workflows within BitGo's custody environment.
- BitGo recently launched an institutional over-the-counter (OTC) crypto trading desk to meet increasing demand, processing significant volume and providing 24/7 trading of over 250 digital assets.
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