TRON recently became the most network for dApp users and even more recently, it has become the newest token in BitGo’s roster as it was announced earlier this week. BitGo will be offering TRON to its institutional investors in 2019.
It was announced on February 19th by BitGo that they intend to add support for the TRON cryptocurrency native currency by the end of 2019.
"Institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step." - BitGo CTO @bencxr https://t.co/UhGG3n2p6u @Tronfoundation— BitGo (@BitGo) February 20, 2019
This will add the hundreds of currencies that BitGo offers its institutional investors such as Bitcoin and Ethereum. In addition to this, wallet and custody support will now be offered for TRON as well.
The news comes following another big announced from BitGo that they will be partnering up with Lloyd’s of London which offers crypto private key insurance for their clients. It seems to be that TRON is looking to seek the benefits from big scale institutional investment to help the expansion of its reach.
“This partnership with BitGo will let institutional investors trade TRX with the confidence. As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.”
Despite virtual assets making some ground, breaking the barrier of getting institutional investment can only be done under the right terms. It is important to note that many investors still distrust cryptocurrency and so they would only feel comfortable putting their money into the digital asset creator when a third party gets involved with proof of a good history.