Bitcoin · Strategy · Bitcoin Magazine
VerifiedX and BitGo Sign MOU to Deliver Qualified Custody for vBTC, Expanding Institutional Access to Native Bitcoin Utility
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VerifiedX today announced the signing of a Memorandum of Understanding (MOU) with BitGo to provide qualified custody support for vBTC, with immediate support for vBTC.b, the non-synthetic canonical Bitcoin asset issued through the VerifiedX Network and deployed on Base.
Key facts
- BitGo currently safeguards more than $49 billion in Bitcoin under custody, with an overall estimate of digital asset custody levels exceeding $100 billion during peak periods, making it one
- Institutions have consistently told us they want two things: qualified custody and non-synthetic productive Bitcoin,” said Jay Pollak, Head of Strategy at the VerifiedX Foundation
- As Bitcoin continues to mature as a treasury and reserve asset, institutions increasingly seek ways to generate utility from their holdings without sacrificing security, transparency, or redemption
- Through vBTC.b, institutions can utilize Bitcoin across a broad range of applications including
Summary
Under the agreement, institutions, asset managers, family offices, corporations, and professional allocators will be able to custody vBTC upon final integration and can now immediately custody vBTC.b through BitGo’s qualified custody infrastructure while accessing the utility of Bitcoin across decentralized finance, payments, collateralization, treasury operations, and on-chain vaulting with recovery features. Unlike traditional wrapped Bitcoin products, vBTC.b is designed as a fully collateralized non-synthetic on-chain and consensus embedded Bitcoin token with native redemption built directly into the asset architecture without any counterparty or federation reliance. “Institutions have consistently told us they want two things: qualified custody and non-synthetic productive Bitcoin,” said Jay Pollak, Head of Strategy at the VerifiedX Foundation.