On July 19, digital assets company Bitgo announced it was partnering with the Next Foundation and will be “the first qualified custodian to support the protocol and its assets, including its native token.” The cooperation will give institutions that own near protocol (NEAR) tokens, the ability to store and play the coins through the Bitgo platform.
Bitgo Partners With The Next Foundation
The company of financial services of digital assets Bitgo made a partnership agreement with the Near Foundation, the non-profit foundation based in Switzerland, which is responsible for the development and core management for the Upcoming Protocol. La Close to protocol is an open source, carbon-neutral, public proof of interest (PoS) blockchain that uses Nightshade’s consent mechanism.
The Palgo Alto, California-based Bitgo company says that with the new partnership, “institutions are holding [near protocol] tokens will now be able to store and pack these tokens with hot wallets and qualified safes on the Bitgo platform. ”The Next Foundation will also guard the foundation’s treasury and invest the assets through the Bitgo platform.
“Bitgo is excited to become the first qualified custodian to provide services to the entire Near Protocol ecosystem, including owners of the [near] token who were looking for a safe way to store and place their assets, “Bitgo’s vice president of product Nuri Chang said in a statement. Chang added:
La [Near Protocol] has built a comprehensive network of institutions that are committed to promoting the Open Network and Web3 development, and we are pleased to provide them with safe and secure security and palliative services for theirs. [near] tokens.
Bitgo’s Token List Is Just Afraid of 600 Cryptographic Assets
The crypto asset near protocol (NEAR) is the 27th largest in terms of market capitalization at the time of writing and has traded for $ 3.92 to $ 4.57 over the last 24 hours. NEAR’s market valuation today is $ 3.3 billion or 0.298% of the crypto economy’s $ 1 trillion market valuation.
NEAR has performed better than most cryptocurrencies this year, as the digital currency has gained 45% over the last 30 days and from year to year, NEAR has risen by 133.3% against the US dollar. In terms of decentralized finance (challenge), the Protocol Near has about seven challenge projects and today there is $ 344.4 million of total value locked between them.
Bitgo details that adding a close protocol (NEAR) to the company’s list makes it just shy of 600 crypto tokens backed by the company. Bitgo believes the token diversity underscores “the growing interest among institutions for access to high-speed, complex blockchains and their native tokens.”
What do you think of Bitgo adding a close protocol (NEAR) to the company’s list of supported cryptocurrencies? Let us know what you think about this topic in the comment section below.
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