Bitgate has selected BitGo’s self-managed custody solution to securely hold clients’ digital assets and meet Japan’s new Financial Services Agency (FSA) regulations.
The regulations came into effect on 1 May of this year and ensured that business activities relating to cryptocurrency in Japan are more stringently overseen.
BitGo’s custody solution will allow Bitgate to access software products to secure customer assets under the new FSA requirements, which recommend a reliable designated method to hold digital assets.
The solution implements multi-signature security software and advanced security configurations that are FSA-compliant.
It will also provide training, set up and consultation services for Bitgate, as well as auditing capabilities, access to multiple currencies, and immediate integration into BitGo’s custody technology.
Mike Belshe, CEO of BitGo, explained: “BitGo’s unique, custom self-managed custody solution was specifically designed for the Asian market and is now trusted by 25 percent of the FSA licensed exchanges.”
“Bitgate is relying on our long-established experience and proven track record to eliminate single points of failure and secure customer assets. Additionally, BitGo’s ability to seamlessly integrate the solution for the client enables them to be fully operational quickly.”
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