Netcoins Selects BitGo Trust Company as Custodian for Launch of Canadian-Based Custody Solution
December 17, 2018
Netcoins Holdings Inc. (“Netcoins” or the “Company“) (CSE: NETC; OTC: GARLF; WKN: 1WJ) is pleased to announce that it has signed a definitive agreement with BitGo Trust Company as custodian for its Netcoins-branded custody solution. Following a software integration phase, Netcoins expects to launch Netcoins Custody in Q1 2019.
Custody is a key component of a full service crypto company and brokerage, and Netcoins has chosen BitGo, the market leader in institutional cryptocurrency financial services, to provide the back end technology and infrastructure required to launch Netcoins Custody.
BitGo provides institutional investors with security, compliance, and custodial solutions for blockchain-based currencies. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company has a customer base that includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. BitGo is backed by Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
“Netcoins wanted the most secure and compliant custodianship and, after evaluating several options, they chose BitGo Trust Company,” said Josh Schwartz, VP of Sales, BitGo. “We’re excited to be working with Netcoins to expand access to digital assets.”
“We are thrilled to be bringing institutional level crypto custody to the market in Canada with BitGo Trust Company, the first qualified custodian purpose-built for digital assets,” said Netcoins CEO Mark Binns. “Custody is a key component to institutional adoption, and also critical for enabling traditional brokerage houses to sell crypto to their retail investors. We continue to build a full service crypto company, and this is another big step forward for Netcoins.”
About the Company
The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 171,000+ retail locations globally, a self serve crypto purchase portal and an Over-The-Counter (OTC) trading desk.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
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This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.