BitGo, bitcoin security platform and a pioneer of multi-sig technology, and Kraken Bitcoin Exchange have announced their new partnership which now allows the San-Francisco-based exchange to benefit from BitGo’s multi-sig vault wallet system and security management controls.
Before this partnership, Kraken utilized a custom off-chain, multi-part signing system with off-site components which provided similar benefits to BitGo but decided to switch when rebuilding its system to improve efficiency. Co-founder and CEO of Kraken, Jesse Powell stated “While we’ve always prioritized security, this partnership allows us to free up valuable resources internally, and provide greater transparency and comfort to our clients. Anyone who needs to have custody of or escrow bitcoin would benefit greatly from BitGo’s highly capable team of industry veterans. I’m looking forward to what we do together next.”
Handling over $1 billion in a the first quarter of 2015, BitGo’s platform API boasts a strong record on security. It also prides itself on its high scalability and ease of use. Speaking on the new partnership, Jonathan Silverman, Director of Strategic Initiatives at BitGo, commented “We are very happy to add Kraken to the BitGo family of exchange partners. Kraken serves a vital role in the digital asset ecosystem by delivering the deepest liquidity in the BTCEUR market and many alternative cryptocurrencies. We look forward to their continued expansion and the innovation that their depth of experience brings to the table. Our team is passionate about preserving the safety and security of digital assets, and we are thrilled to be working with such esteemed veterans of Bitcoin.”