BitGo plans to launch its Settlement Network, a service that enables traders to access multiple venues at once in a safe, direct manner, while exchange partners stand to benefit from higher trading volume. With Settlement Network, BitGo Trust Company links both parties in a way that lets traders buy and sell from a single user interface and then settle end-of-day in an off-chain manner. During the process, those funds remain in cold storage at BitGo.
To get started, traders will need accounts at both BitGo and whichever venues they plan to use, which must be part of Settlement Network to be eligible. Once they allocate funds to each exchange, BitGo will pass that information securely to each venue and the trader’s balance will get updated accordingly. BitGo’s initial exchange partners will include Blockchain.com, INX, and Enclave Markets.