Bitcoin and cryptocurrency storage company BitGo recently announced a new service called BitGo Trust. The solution will hold digital assets for institutional investors independent of any exchange or trading activities. With the announcement, also came news that BitGo will no longer proceed with its acquisition of banking company Kingdom Trust.
BitGo is now seeking its own charter to build BitGo Trust. Their vision is to build a new, regulated, qualified custodian that will be the first and only one built from the ground up for digital assets.
The company currently offers multiple options for custody, from self-custody to full custody at BitGo. BitGo Trust will seek to expand the offering with a regulated, qualified custodial product for US investors.
Josh Schwartz Joins BitGo as VP of Sales
On the back of the BitGo Trust announcement, BitGo informed today they have brought aboard Josh Schwartz as VP of Sales. Josh’s experience with the institutional investor market complements BitGo’s leadership in building institutional-grade security, storage, compliance, and custody solutions for digital assets.
Josh comes to BitGo with over 16 years of sales leadership in financial services. He brings a strong background in trading technology and transaction cost analysis and has extensive capital markets experience across buy-side and sell-side firms. Most recently, Josh worked at Bloomberg, where he led the global new business effort for Bloomberg Tradebook.
Prior to Bloomberg, Josh served as Head of Business Development at Axiom Investment Advisors, LLC. Before that, he held several roles at Cantor Fitzgerald, including VP of Business Development for eSpeed (acquired by Nasdaq in 2013). Josh also co-founded the Trior Group, a buy-side advisory business to help optimize execution costs and commission allocation policies