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Crypto Security Firm BitGo Adds Zcash Support

Zcash Price ZEC

Multi-currency storage and security platform BitGo announced today, July 25th, that it will be adding Zcash to its list of supported cryptocurrencies.

BitGo’s Chief Technical Officer Ben Chan told Coindesk in an interview today that, “zcash is a natural fit for BitGo as both are focused on privacy protection, security and cutting-edge technology.”

Indeed, Zcash has been traditionally considered to offer users greater anonymity and security than many other coins currently on the market and is often described as a “Swiss bank account in your pocket”. The Zcash project was ranked 26th in China’s July cryptocurrency rating index with a score of 78.3 and is currently the 21st-ranked coin by market cap.

“The Zcash Company ecosystem team and BitGo worked collaboratively to ensure Zcash is well integrated and supported,” said Zcash engineer Brad Miller.

BitGo was founded in 2013 and is an industry leader in managing cryptocurrency wallets and exchanges. The company has pioneered a number of safety and usability protocols, including multi-signature technology, key recovery solutions and zero confirm transaction services—enabling businesses to safely work with digital currencies. The company has consistently sought to offer custodial services to large financial institutions.

In a Bloomberg article featuring BitGo last month, hedge fund manager Kyle Samani stated that quality crypto-custody services are one of the last obstacles the cryptocurrency market will need to overcome in drawing serious attention from Wall Street.

“There are a lot of investors where custodianship was the final barrier,” Samani tells Bloomberg. “Over the next year, the market will come to recognize that custodianship is a solved problem. This will unlock a big wave of capital.”

In the last month BitGo has added 57 Ethereum tokens to its platform and plans to add 100 more cryptocurrencies by the end of 2018.

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