BitGo is announcing the first multi-signature wallet and custody services for the newly launched Algorand blockchain. Algorand hot wallets are now available via our web interface or API. Algorand custody is available though either BitGo, Inc. or BitGo Trust Company, the first qualified custodian purpose-built for digital assets.

Algorand blockchain is the brainchild of Turing Award Laureate Silvio Micali who published the technical white paper in 2017. Since then, Algorand’s promising team and their unique take on the blockchain trilemma has captured the attention of institutional investors, raising $66 million from the likes of Union Square Ventures and Pillar VC in addition to the $60 million raised last month through their token sale hosted on CoinList. A lot has been written about the blockchain trilemma; you want scale, security, and decentralization but you can only get two at one time. Algorand’s Pure Proof-of-Stake protocol is designed to break this trilemma, delivering all three.

This year we partnered with the Algorand Foundation as they were preparing for their mainnet launch to create the same multi-sig of security for Algorand that we previously pioneered for Bitcoin, Ethereum and other digital assets. Our partnership with the Algorand Foundation ensures that Algorand has the necessary infrastructure that institutional investors need such as, multi-signature hot wallets and cold storage solutions.

Multi-signature wallets are the base layer of cryptocurrency security. M-of-N signature schemes eliminate single points of failure by requiring participation of multiple entities in signing of a transaction.

In addition to BitGo’s multi-sig hot wallets, BitGo Trust’s support for Algorand provides institutional investors with insured, compliant custody solution.

About BitGo

BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.

©2025 BitGo Inc. (collectively with its affiliates and subsidiaries, “BitGo”). All rights reserved. BitGo Trust Company, Inc., BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA. No legal, tax, investment, or other advice is provided by any BitGo entity. Please consult your legal/tax/investment professional for questions about your specific circumstances. Digital asset holdings involve a high degree of risk, and can fluctuate greatly on any given day. Accordingly, your digital asset holdings may be subject to large swings in value and may even become worthless. The information provided herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. BitGo is not directing this information to any person in any jurisdiction where the publication or availability of the information is prohibited, by reason of that person’s citizenship, residence or otherwise.