By BitGo Trust Company, a cryptocurrency custodial firm has announced that its adding support for venture capital firm Blockchain Capital’s BCAP security token.
BitGo revealed the news in an exclusive statement on Tuesday, stating that customers will now be able to compliantly store their BCAP assets via the firm’s custody services, as well as in a multi-signature wallet which supports the ethereum ERC-20 token.
Brad Stephens, co-founder and partner at Blockchain Capital, in his statement, spoke to why the VC firm decided to partner with BitGo for custody services stating:
“We wanted to ensure that our custody solution for BCAP would be completely secure while easy to manage.”
Blockchain Capital launched the BCAP STO back in April 2017. Each token represents a share in the Blockchain Capital III Digital Liquid Venture Fund. Thus, it offers each holder exposure to the pegged assets of Blockchain Capital, which makes investments in young companies and startups within the digital currency arena.
Furthermore, the BCAP token is tradeable on secondary platforms, which means investors are eligible to “benefit from the opportunity for liquidity in those assets,” as per BitGo’s statement. In early January the regulated alternative trading system (ATS) SharesPost oversaw the secondary trade of BCAP tokens in a landmark transaction based on the proof-of-concept protocol.
BitGo Chief technology officer Ben Chan stated:
“Security tokens are an increasingly important asset class for institutional investors.”
Currently, BitGo supports over 100 various cryptocurrencies and tokens with an apparent $2 billion in assets being held in its wallets.
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