BitGo Joins Hedera Council to Drive Enterprise Web3 Adoption

BitGo Trust Company Inc., a pioneer in digital asset trust and security, announced that it is joining the Hedera Council. This move marks a pivotal moment for both organizations, highlighting their shared commitment to innovation and future success of the Hedera network.

Mike Belshe, CEO of BitGo, emphasized the company’s efforts to drive enterprise adoption of Web3 technology. He expressed his enthusiasm to support and accelerate Hedera’s growth trajectory, highlighting Hedera’s innovative tools and network capabilities as key drivers for this adoption.

Founded in 2013, BitGo has established itself as a leader in digital assets, serving more than 1,500 customers in 50 countries. The company is known for its secure hot wallets and regulated custody cold wallets, providing a comprehensive platform to meet the needs of institutional clients.

BitGo’s expertise in providing institutional-grade security for digital assets is unrivaled and supports a wide range of clients, including Fortune 100 companies, cryptocurrency exchanges, and government agencies.

BitGo and Hedera’s participation predates this announcement. The company has already invested significant resources into integrating wallet-as-a-service and qualified custody support for Hedera Token Services (HTS). BitGo also operates six mirror nodes on Hedera’s proof-of-stake network, demonstrating deep technical integration and support for Hedera’s infrastructure.

By becoming the 32nd member of the Hedera Council, BitGo joins a diverse and powerful group of organizations dedicated to innovation, stability, and decentralization of the network. Council members play an important role in guiding the development of Hedera, with each member having an equal vote on the direction of the network. This collaborative approach allows Hedera to remain at the forefront of blockchain innovation with a focus on creating scalable, secure, and sustainable solutions for enterprises.

BitGo and Hedera’s partnership extends beyond members of Congress. The company plans to explore future opportunities to expand its offering, including support for the Go Network, BitGo’s real-time payment network for USD and digital assets. This collaboration represents a strategic effort to improve the usability and accessibility of blockchain technology for institutional clients and pave the way for widespread adoption of digital assets.

Bill Miller, Hedera Membership Committee Chair, praised BitGo’s extensive experience in product development, governance and compliance. He noted that BitGo’s expertise will be invaluable to the Hedera board and the broader ecosystem, aligning with Hedera’s vision for security, scalability and sustainability.

Also Read: BitGo Raises $100 Million in Series C Funding Amid Surging Demand for Regulated Custody Solutions