Stellar Lumens (XLM) was recently added by ChangeNoW Exchange, XLM is expected to added by the Custodian BitGO in upcoming weeks. BitGO recently added DASH on their network and looking forward to add XLM. BitGO Co-founder and CEO said that they added DASH and in next few weeks they will add Stellar Lumens (XLM). BitGo, is a company based in Palo Alto, California. The company helps the investors to keep their digital currency holdings, they do not allow trading unlike Coinbase, basically BitGO does the custodianship for the cryptocurrencies. On 5th Oct, 2018 BitGO tweeted:
“On today’s Balancing The Ledger: @BitGo CEO @mikebelshe reveals his cryptocurrency custodian has added support for $DASH. In the next couple weeks, expect @StellarOrg’s $XLM to be added as well, he tells @FortuneLedger.”
BitGO CEO, Mike Belshe on Stellar Lumens Addition
Last Friday, BitGO announced that the customers would be able to keep DASH in the wallets provided by BitGo. They also said that in next few weeks, BitGO will also add support for XLM, the blockchain program that spun out of fintech giant Stripe in 2014. BitGO Co-founder and CEO, regarding the listing of XLM said:
“This week we are happy to announce, we’re supporting DASH, and Stellar’s coming. XLM is in final test, it will be out very soon!”
Talking about Stellar Lumens (XLM), Mike said that XLM has done a lot in terms about tokenization. So, they are also targeting global payments. He added that more for consumers, it’s a little bit different than what Bitcoin itself does. BitGO do not want to add a coin which is not legitimate or be a detriment to investors. So, they find Lumens a well-developed, legitimate and investors favorite asset.
BitGO a Qualified Custodian
BitGO is a security and scalability platform for digital assets. They know support almost 85 cryptocurrencies including BTC, ETH, BCH, LTC and ZEC. The big difference between BitGO and other exchanges like Coinbase is that BitGO do not trade, it is a security platform, started out as pure technology.
They are the world top custodian platform for digital assets. Such Custodial Platforms are much needed for cryptocurrencies. BitGO basically satisfies the legal and security requirements needed for different institutional investors. BitGO, just keep the assets of the users and give them back in the same way they took.
The CEO BitGO “said, ‘that if the NY Stock Exchange goes to SEC and tell them to be a custodian for the assets they trade, the SEC would laugh them out of the room.” In Mike’s view, “the existence of challenging interests inside single company opens up the door for misuse and abuse.”
Stellar’s (XLM) addition on BitGO will be a huge boost for the users of XLM, as it will allow its users and investors to keep their money on the network for as long as they can without any threat of security and illegality. Because BitGO provides full proof security under the support and approval of SEC. So those investors who are very keen about the legal platform, they will get one to store their assets. This listing will help XLM’s user base increase much more after the announcement goes official. So, in coming weeks XLM is looking to surge, and there is a good change for Lumens to prove a point among the crypto investors.