Providing retail NFT creators and investors access to US-regulated, insured NFT custodial services for the first time.
(PRWeb) Chicago, IL - Etana Custody, a trusted industry leader in regulated multi-asset custody and support, announced their partnership with BitGo, the leader in institutional custody and prime brokerage to provide an array of digital asset and NFT custodial services to retail customers. This will provide the proper guardrails needed for the NFT ecosystem to rapidly grow and provide millions of retail users access to secure, US-regulated, insured custodial solutions for NFTs.
By opening an account and depositing an NFT with Etana Custody, Etana will use BitGo wallets as a sub-custodian and technology solution, currently compatible with the ERC-721, ERC-1155 protocols, and Crypto Punks. However, this is rapidly expanding to other protocols as well.
Brandon Russell, CEO of Etana, shared, "Hundreds of millions of dollars in market value have been stolen from retail users in 2022 alone. Etana Custody and BitGo are excited about the use cases being developed around NFT technology. Both institutional and retail users can use this solution, but it is the first time retail users will have access to US-regulated custodial solutions for NFTs. Etana is always striving to provide customers peace of mind when deciding where to custody their digital assets."
"The NFT space has seen massive growth in the past year along with an increasing set of use cases and applications. Various recent hacks and phishing attacks make this one of the most important issues to solve for fueling growth and innovation in the NFT ecosystem. More builders are solving real-world problems, and more investors are participating. What's been missing is the institutional infrastructure to protect these digital assets and their owners," said Mike Belshe, CEO of BitGo. "Since 2013, BitGo has been dedicated to serving institutional investors and enterprises looking to safely hold digital assets. We were instrumental in building out the guardrails that helped the industry get to this point, and now it's time we do the same for NFTs."
Visit Etana.com/NFT to get early access to Etana’s NFT-insured custody service in Q4, 2022.
BitGo is the first digital asset company that has been focused exclusively on serving institutional clients since 2013. BitGo provides institutional investors with custody, liquidity, and security solutions. Active in both centralized and decentralized finance, BitGo offers market-leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, the leading global stablecoin for Bitcoin.
In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. In 2020, BitGo launched BitGo Prime, Portfolio, and Tax, providing clients with a full-stack solution for digital assets. In 2022, BitGo launched institutional-grade DeFi, NFT, and web3 services. BitGo processes approximately 20% of all global Bitcoin transactions and supports over 600 coins and tokens. BitGo's customer base includes the world's largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. To learn more about BitGo, visit Bitgo.com.
About Etana Custody
With Etana, clients in more than 120 countries can custody a range of utility tokens, NFT, stablecoins, and G10 currency. On the heels of announcing their SOC2 certification and partnership with CryptoFi, Etana's partnership with BitGo is the latest structural innovation for securely buying and selling directly from custody and eliminating risky transfers and inefficient transactions.
As an independent, qualified custodian, Etana Custody offers innovative global custodial and trade support solutions for institutions, corporations, exchanges, and individuals. The industry-leading suite of custody and trade support solutions for fiat and digital assets provides flexibility and peace of mind to Etana's clients, with the assurance that their digital assets will always stay protected and secure.