BitcoinPaymentWallets

BitGo Processes More than $1B Monthly Transactions, Tripling Growth

At the end of last September, BitGo revealed that it was processing $1 billion of bitcoin transactions per quarter. The Palo Alto-based bitcoin wallet and security provider experienced significant growth in the Fourth Quarter of 2015 resulting in tripling transactions and handling more than $1 billion per month.

BitGo’s CEO, Mike Belshe, notes:

The growth this last quarter was primarily fueled by a number of new partners moving to BitGo’s platform as well as existing customers seeing significant transaction growth independently. We expect the rise in volumes to continue in 2016.

Prior to BitGo, Belshe worked at Google on the founding team of Google Chrome, was the co-inventor of SPDY, which has now become HTTP/2.0, and co-founded Lookout Software, an email search company acquired by Microsoft.

As an industry, the use of P2SH or multisig has generally been on the rise as well. In January, for the first time, more than 10% of bitcoins were protected in multisig wallets worldwide.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.
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