Sustainable Bitcoin Protocol (SBP) has partnered with digital asset security, custody and liquidity firm BitGo to launch the first-ever sustainable custody solution for Bitcoin.
SBP has developed an innovative product, the Sustainable Bitcoin Certificate (SBC), that allows investors to hold bitcoin in a verifiably climate-positive way.
SBCs are on-chain assets that represent sustainable bitcoin mining and can be added to the holdings of a bitcoin investor, 1:1, ensuring that they are sustainably holding bitcoin without disrupting its fungibility. As part of the partnership, BitGo will offer SBC custody to its institutional and platform clients as a key differentiator.
The partnership also aims to develop a “Proof of Sustainability API” where investors can demonstrate their green credentials by holding an equal number of bitcoin and SBC in BitGo custody, meeting the increasing demand for transparency in digital assets.
The partnership with SBP is intended to elevate BitGo’s current platform by creating an unparalleled combination of secure custody, institutional service and sustainability.
The new offering builds on BitGo’s reputation for providing secure and scalable solutions for the digital asset economy, offering regulated custody, staking and trading, and core infrastructure to investors and builders alike.
The collaboration allows BitGo to offer the most secure and sustainable bitcoin custody solution on the market, providing its clients with a way to hold bitcoin that aligns with their investment strategies and values. SBP aims to make bitcoin a more sustainable asset class and enable investors to hold it in a climate-positive way.
The new offering addresses the increasing demand from environmental, social and governance and climate-focused institutional investors who want to hold bitcoin but are concerned about its climate impacts.
The partnership is a key step forward in making bitcoin a more sustainable asset class and enabling investors to hold it in a climate-positive way. The new offering will enable investors to demonstrate their commitment to sustainability while investing in bitcoin.
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- Source: https://alexablockchain.com/bitgo-sustainable-bitcoin-protocol-launch-bitcoin-custody-solution/
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