NEAR cooperates with BitGo to attract institutional investments
BitGo, a digital asset company, will support the NEAR Foundation protocol and its assets with qualified storage services, the company said in a statement on Tuesday.
Institutions owning NEAR tokens will be able to store them and stack them through hot and qualified depository wallets on BitGo. The NEAR Foundation, a Swiss non-profit organization that monitors the sustainable development of the protocol, will also store its own treasury in BitGo and place part of this treasury using BitGo wallets.
BitGo Vice President of ProductsNuri Chang said that the new partnership means that developers working on projects such as exchanges and protocols will be able to launch NEAR support using BitGo software wallets.
"We are also creating BitGo staking support for NEAR ourselves. This means that customers will be able to stack NEAR directly from the BitGo wallet with just a few mouse clicks," he said.
NEAR Protocol, founded in 2018By Alexander Skidanov andIlya Polosukhin, is an open source platform for decentralized applications. A study conducted in January of this year identified 213 projects and companies in 14 verticals of the NEAR ecosystem.
In the statementMarike Flaman, CEO of the NEAR Foundation, says that the partnership with BitGo is proof of NEAR's commitment to expanding its ecosystem.
"This is an important step for NEAR and its entry into the world of institutional investments," she said.
Over the past year, NEAR has launched a number of projects, in particular, related to inter-network interaction. In April 2021, NEAR launched Rainbow Bridge so that users could transfer ERC-20 tokens between the Ethereum and NEAR blockchains, as a result of which NEAR's own blockchain token became interoperable.
In June of the same year, NEAR joined the ICON Blockchain Transmission Protocol (BTP), which allowed sending native tokens, contract calls and data to BTP partners such as Polkadot (DOT). He also ensured the inter-network compatibility of the Cardano Aradana stablecoin and launched the Ethereum Layer 2 Aurora (AURORA) scaling protocol.
https://coin-signal.com/cryptonews/near-cooperates-with-bitgo-to-attract-institutional-investments/
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