BitGo Launches Custody for Canton CC with $250M Insurance
BitGo custody services now cover Canton Network’s native CC token. The integration adds regulated cold storage, multi-signature security and $250 million institutional insurance. This makes BitGo the first US qualified custodian for Canton CC, following SEC designations of BitGo, Ripple and Coinbase. Canton Network is a privacy-first blockchain handling over $6 trillion in on-chain assets and $280 billion in daily repo trades across 600 validators. BitGo custody for CC also includes self-custody wallet support, compliance tools and streamlined reporting. The Canton Foundation is pursuing EU trading approval with a potential Kraken EU listing. BitGo plans to extend custody to all Canton Network assets with future withdrawal functions, token standard integration, stablecoin support and trading access. Founded in 2013, BitGo secures over $90 billion in assets and aims to bridge traditional finance and digital markets.
Bullish
In the short term, BitGo’s custody service and $250M insurance reduce counterparty risk and may boost demand for CC tokens. Regulatory recognition by the SEC enhances institutional trust. Over the long term, qualification as a custodian and planned asset support deepen market infrastructure, potentially increasing liquidity and adoption of CC. Historical data shows tokens gaining qualified custody services often see sustained price appreciation. These factors suggest a bullish outlook for CC.