BitGo, the custodian, will support the Near Protocol network by providing the project’s ecosystem with institutional-grade digital-asset custody services, according to The Block.
Companies will be able to use BitGo’s hot and custodial wallets to store and stake NEAR tokens.
The nonprofit organisation backing the ecosystem, Near Foundation, will place a portion of its treasury assets on the custodial platform.
Nuri Chang, BitGo’s Vice President of Product, noted that the partnership would enable project developers—such as exchanges and protocols—to integrate NEAR support using the company’s software wallets.
“We are also working on staking support for NEAR. That means clients will be able to connect directly from the BitGo wallet in just a few clicks,” he added.
Marieke Flament, CEO of Near Foundation, emphasised that the partnership is a testament to the project’s commitment to expanding its ecosystem.
“This is an important step for NEAR and its entry into the world of institutional investments,” she said.
Over the last 24 hours the protocol’s token rose by nearly 11%. Over the week the asset’s price rose by 7.3% (CoinGecko).
In May 2022, ConsenSys announced a partnership for its Infura infrastructure-solutions unit with Near Protocol.
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