BitGo’s Newest Trading Capability: Auto Liquidation
Auto Liquidation streamlines the process of selling digital assets to obtain USD to meet businesses’ needs.
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Auto Liquidation enables clients to focus on their core business activities by removing the burden of continually placing orders to sell their digital assets.
Once digital assets are received at a wallet address set up with Auto Liquidation, orders will be placed to sell those assets based on the confirmed standing instructions.
This capability can be utilized by a wide range of clients, such as digital asset miners and financial institutions, to save time.
The rising interest in digital assets has transformed consumer payment habits in today's market. While this presents exciting opportunities for businesses it also presents a new challenge: efficiently converting the assets they receive into USD. Auto Liquidation, a new trading capability from BitGo, addresses this very issue by offering businesses an automated way to sell digital assets and receive USD.
How it works
To initiate Auto Liquidation, clients need a multi-asset Go Account wallet, provided by BitGo Trust Company, Inc., a bankruptcy-remote, regulated, qualified custodian with up to $250M in insurance. Clients can then select the wallet address(es) and assets types that will be used for Auto Liquidation. Following this setup, any time assets are received orders will automatically be placed based on the standing instructions.
Auto Liquidation leverages BitGo Prime’s institutional-grade trading infrastructure and deep liquidity network to execute orders. This capability removes the need for clients to monitor their wallets to determine when assets have been received and the operational burden of placing sell orders each time. Once the proceeds from the order are available, clients are free to hold, transfer, or withdraw as needed.
"At BitGo, we understand the challenges clients face when managing digital assets,” said Steve Scott, Executive Director of Sales at BitGo. “Auto Liquidation is a direct response to these challenges, offering a seamless and efficient way to turn digital assets into USD. This allows our clients to focus on what they do best, while BitGo handles the conversion process."
By simplifying the process of turning digital assets into USD, BitGo is empowering businesses and institutions to confidently participate in the digital asset economy. Contact us to learn more about how you can leverage Auto Liquidation to meet your business needs today.
Subject to jurisdiction limitations
About BitGo
BitGo provides the most secure and scalable solutions for the digital asset economy, offering regulated custody, borrowing and lending, and core infrastructure to investors and builders alike.
Founded in 2013 — the early days of crypto — BitGo pioneered the multi-signature wallet and later built TSS to improve upon other companies’ MPC offerings. Between multi-sig and TSS, BitGo offers the safest technology on the market and safeguards over 600 tokens across a wide variety of blockchains.
Over the years, BitGo has expanded from offering wallets into providing a full-suite solution that lets clients hold assets safely and then put them to work.
BitGo launched BitGo Trust Company in 2018, providing fully regulated, qualified cold storage to complement BitGo Inc’s original hot wallet solution. In 2020, BitGo launched BitGo Prime, which allows its clients to trade, borrow, and lend. Moreover, BitGo also provides access to DeFi, staking, NFT wallets, and beyond, and serves as the world’s sole custodian for WBTC, or wrapped Bitcoin.
Today, BitGo is the leader in digital asset security, custody, and liquidity, providing the operational backbone for more than 700 institutional clients in over 50 countries — a list that includes many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo also processes approximately 20% of all global Bitcoin transactions by value.
For more information, please visit www.bitgo.com.
©2024 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.
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