Managing tokens in the cryptocurrency world can be a complex and fragmented process, according to BitGo, a leading cryptocurrency custody firm. The company is now offering a solution to help foundations and organizations streamline the management of digital assets they issue, with protocols like Worldcoin, LayerZero, Sui, and ZetaChain already on board.
BitGo’s custody platform aims to simplify the lifecycle of digital assets by providing a regulated and insured environment for activities such as vesting, unlocking, and on-chain transactions. The service leverages BitGo Trust, the firm’s qualified custodian offering, to ensure security and compliance.
In today’s Web3 landscape, building protocols involves more than just basic blockchain transactions. Developers are now creating programmable economies where new protocols can be easily deployed and tokens can be minted with minimal effort. This shift has led many protocol builders to focus on technical aspects like tokenomics and validator processes, often leaving token management as an afterthought.
Thomas Chen, BitGo’s head of sales, warns that neglecting token management can lead to significant challenges down the line. He explains, “Protocol builders often face a fragmented landscape when it comes to managing their tokens. They have to navigate between non-custodial wallets, web-based solutions, and smart contracts for distribution. This complexity can become a logistical nightmare for operations teams trying to ensure a successful mainnet launch.”
By offering a centralized solution for token management, BitGo aims to simplify the process for protocol builders and organizations issuing digital assets. The platform provides a one-stop solution for custodial services, ensuring a seamless experience for managing tokens and unlocking their full potential.