BitGo and Genesis Trading to build institutional bitcoin trading platform

Source: BitGo

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, 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.

“Genesis Trading is taking a bold new approach to digital currency trading”
Formerly known as the Trading Division of SecondMarket, 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 operational 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.”

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