BitGo recently announced a new venture to diversify its Wrapped Bitcoin custodial locations, and Justin Sun’s involvement has caused concern for some.
BitGo CEO Mike Belshe has brushed off claims that Justin Sun’s involvement in its Wrapped Bitcoin business will somehow impact its security or transparency.
On Aug. 9, cryptocurrency custody platform BitGo announced changes to its Wrapped Bitcoin (WBTC) business, diversifying its custodial jurisdictions for the underlying Bitcoin (BTC) — previously held in the United States — to locations including Singapore and Hong Kong.
The joint venture involves Hong Kong-based BiT Global and a “strategic partnership” between BitGo, the Tron ecosystem and Tron CEO Justin Sun.
