{"id":23420,"date":"2022-07-20T10:47:42","date_gmt":"2022-07-20T10:47:42","guid":{"rendered":"https:\/\/egrowonline.com\/?p=23420"},"modified":"2022-07-20T10:47:42","modified_gmt":"2022-07-20T10:47:42","slug":"bitgo-adds-near-protocol-support-custodian-to-store-near-foundations-treasury-altcoins-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=23420","title":{"rendered":"Bitgo Adds Near Protocol Support \u2014 Custodian to Store Near Foundation\u2019s Treasury \u2013 Altcoins Bitcoin News"},"content":{"rendered":"


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On July 19, the digital asset company Bitgo announced it has partnered with the Near Foundation and will be \u201cthe first qualified custodian to support the protocol and its assets, including its native token.\u201d The collaboration will give institutions holding near protocol (NEAR) tokens the ability to store and stake the coins via Bitgo\u2019s platform.<\/strong><\/p>\n

Bitgo Partners With the Near Foundation<\/h2>\n

The digital asset financial services firm Bitgo<\/a> has inked a partnership deal with the Near Foundation<\/a>, the non-profit foundation headquartered in Switzerland that\u2019s responsible for the development and core governance for the Near protocol. The Near protocol<\/a> is an open-source, carbon neutral, public proof-of-stake (PoS) blockchain that uses the Nightshade consensus mechanism.<\/p>\n

The Palo Alto, California-based company Bitgo says that through the new partnership, \u201cinstitutions holding [near protocol] tokens will now be able to custody and stake these tokens via hot wallets and qualified custody wallets on Bitgo\u2019s platform.\u201d The Near Foundation will also custody the foundation\u2019s treasury and stake the assets via Bitgo\u2019s platform.<\/p>\n

\u201cBitgo is excited to become the first qualified custodian to provide services to the entire Near Protocol ecosystem, including holders of the [near] token who have been searching for a secure way to store and stake their assets,\u201d Bitgo\u2019s vice president of product, Nuri Chang said in a statement. Chang added:<\/p>\n

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The [Near Protocol] has built an extensive network of institutions that are committed to furthering the Open Web and Web3 evolution, and we are excited to deliver them safe and secure custody and staking services for their [near] tokens.<\/p>\n<\/blockquote>\n

Bitgo\u2019s Token Roster Is Just Shy of 600 Crypto Assets<\/h2>\n

The crypto asset near protocol (NEAR)<\/a> is the 27th largest by market capitalization at the time of writing and has been trading for $3.92 to $4.57 during the last 24 hours. NEAR\u2019s market valuation today is $3.3 billion or 0.298% of the crypto economy\u2019s $1 trillion market valuation.<\/p>\n

NEAR has performed better than most crypto assets this year as the digital currency has gained 45% during the last 30 days and year-to-date, NEAR is up 133.3% against the U.S. dollar. In terms of decentralized finance (defi), the Near protocol has roughly seven defi projects and today, there\u2019s $344.4 million total value locked among them.<\/p>\n

Bitgo details that adding near protocol (NEAR) to the company\u2019s roster makes it just shy of 600 crypto tokens supported by the company. Bitgo believes the token diversity underscores \u201cthe growing interest among institutions for access to high-speed, complex blockchains and their native tokens.\u201d<\/p>\n

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\nTags in this story
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Altcoins<\/a>, BitGo<\/a>, Bitgo Custody<\/a>, coin support<\/a>, custodian<\/a>, custody treasury<\/a>, DeFi<\/a>, NEAR<\/a>, Near Foundation<\/a>, Near foundation’s treasury<\/a>, near protocol<\/a>, near protocol (NEAR)<\/a>, Nightshade<\/a>, Nuri Chang<\/a>, PoS<\/a>, Treasury<\/a>, Vice President of product<\/a><\/div>\n<\/div>\n

What do you think about Bitgo adding near protocol (NEAR) to the company\u2019s roster of supported crypto coins? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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