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Genesis Trading Partners with BitGo to Streamline Bitcoin Wallet Security and Management
[April 23, 2015]

Genesis Trading Partners with BitGo to Streamline Bitcoin Wallet Security and Management


BitGo®, the leading bitcoin security platform, today announced that it has partnered with Genesis Trading, the first broker-dealer in the US, regulated by FINRA and the SEC (News - Alert), to specialize in trading bitcoin. BitGo and Genesis Trading will work together to create a secure digital currency trading platform specializing in large trades for private and institutional investors.

Formerly known as the Trading Division of SecondMarket (News - Alert), Genesis Trading has traded more than 800,000 bitcoin worth more than $300 million since April, 2013.

With Bitcoin trading volume continuing to rise, many mainstream institutional investors are moving into the market. Genesis Trading and BitGo's goal is to provide these investors with a seamless trading environment that is both completely secure and intuitively simple to use.

"Genesis Trading's focus on large transactions enhances the need for robust security procedures," said Brendan M. O'Connor, CEO of Genesis Trading. "However, our clients require the ability to execute dynamic trading strategies, rapidly access liquidity, and efficiently and seamlessly purchase or sell large blocks of virtual currencies. BitGo's trustless secure wallet model gives us impregnable security while also retaining the level of flexibility that our clients require."

Under the terms of the partnership, BitGo will work with Genesis Trading to provide a highly secure and flexible trading infrastructure to its private and institutional customers. The two companies will work together to create a state-of-the-art opertional infrastructure to support Genesis Trading's digital currency trading operations that includes multi-sig HD wallets, strong authentication, real-time transaction monitoring, and key signing policies.



"Genesis Trading is taking a bold new approach to digital currency trading," said Mike Belshe, CEO and co-founder of BitGo. "We are excited to work with the great team they have assembled as they transform the Bitcoin trading environment."

The pioneer of key Bitcoin security technologies such as multi-sig and HD wallets, BitGo has continued to advance bitcoin security with products such as cutting-edge risk controls, published industry standards, and the industry's first insurance-backed guarantee. The company's complete line of products includes BitGo Platform API™ and BitGo Enterprise™. Additionally, BitGo has partnered with C4 to introduce the CryptoCurrency Security Standard, a template for certifying the 10 fundamental aspects of cryptocurrency security. BitGo also secured first-of-its-kind comprehensive insurance coverage for bitcoin theft from the global, A-rated XL Group insurance companies, offering a baseline $250,000 protection for all commercial customers.


ABOUT BITGO, INC. // BitGo is the leader in bitcoin security and a pioneer of multi-sig technology. The company offers BitGo Enterprise, an enterprise-grade, multi-sig, multi-user bitcoin wallet, and BitGo Platform API, a robust set of tools and services to access the underlying platform. BitGo was founded by veterans in online security, digital currency, and financial technology. The company has raised more than $14 million in financing from elite Silicon Valley venture capitalists and angels, and bitcoin industry insiders who have backed successful companies like PayPal, Netscape, Red Hat, Proofpoint, Verisign, Juniper Networks, Yammer (News - Alert), and Tesla. To learn more, visit www.bitgo.com.

ABOUT GENESIS TRADING // Genesis Trading is an institutional trading firm offering two-sided liquidity for digital currency. As a division of SecondMarket, Inc., an SEC licensed broker-dealer regulated by FINRA and the SEC, Genesis buys and sells large blocks of digital currency in a simple and secure process. SecondMarket, Inc. is a wholly owned subsidiary of Digital Currency Group (DCG), which is a multi-faceted company focused on the development of the digital currency industry. To learn more, visit www.genesistrading.com.


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