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BitFury Capital Invests in BitGo

Avatar Jayanand Sagar 5 years ago

BitFury Group’s investment arm, BitFury Capital, is at it again.

The group has made what they are calling a “strategic” investment in BitGo, a bitcoin secure products provider. It’s BitFury Capital’s second investment in the bitcoin space, highlighting the desire to support up-and-coming service providers that aim to make bitcoin just a bit more user friendly.

“We are pleased to make our second investment into the Bitcoin ecosystem by investing in BitGo,” said Marat Kichikov. “We believe the BitGo team will continue delivering proven results as multi-signature solutions proliferate.”

BitGo continues their rapid growth in the sector with a focus on enterprise security, allowing for multi-signature solutions that provide safe commercial transactions.

BitFury Capital has not disclosed the financial terms of the investment.

The investment news is also coupled with the announcement that BitFury Group has chosen BitGo for the company’s bitcoin enterprise treasury management solutions.

“As our business has been scaling rapidly, we were looking for efficient and secure bitcoin corporate treasury solutions that would satisfy our operational needs and meet our corporate governance and reporting standards,” said Valery Vavilov. “We look forward to implementing this class of tools across our operations as we continue to scale up our business.”

“BitFury Group’s diversified operations offer unique management challenges, requiring the right operational tools and accounting transparency,” said Will O’Brien, BitGo CEO and co-founder. “This partnership with BitFury Group has the potential to grow and establish new standards for the industry.”

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