TRON (TRX), a project that is almost constantly in the news, is going to receive yet another boost as institutional crypto asset firm BitGo will soon offer crypto wallet and custody support for the token.
The news was revealed In a press release, but support will only arrive in the later half of the year.
TRON founder Justin Sun said of the development:
This partnership with BitGo will let institutional investors trade TRX with the confidence [SIC]. As TRON and its subsidiary BitTorrent work toward our vision of creating a new internet economy that is fast, secure, and cost-effective, we need to work with the companies that can provide that secure foundation. With BitGo, TRX investors will have the most secure wallet and custody options.
BitGo, which serves clients in over 50 countries and handles over $15 billion in transactions every month, supports several other tokens, numbering over 100.
Chief Technology Officer of BitGo Ben Chan expects the entity’s security and regulation-compliant services to aid TRON:
Institutional investors want a wallet provider and custodian who can support a full range of digital assets so adding support for TRX later this year is an important step. BitGo is the only institutional digital asset company with a full product offering, from high-volume wallet platform to regulated custody services. Institutional investors are responsible for other people’s assets, and that requires the highest levels of security and regulatory compliance. BitGo will provide that for TRX.
TRON Gaining A Better Rep?
TRON has not had the most stellar reputation within the community, and have often been called out for its marketing tactics. But recent developments see a trend towards legitimacy in the eyes of investors.
The project was also recently listed by major crypto exchange OKEx, so the past few weeks has been good in terms of liquidity and growth for the token.
The project is notable for its emphasis on marketing and partnerships, with the both the BitTorrent acquisition and the “partnership” with Chinese internet giant Baidu causing quite a stir in the crypto community.
It was recently revealed by dapp monitoring site dapp.review that TRON has become the most popular dapp platform, trouncing Ethereum and EOS by quite a hefty margin. Justin Sun, not one to shy away from publicizing the achievements of the project, gladly announced the news via Twitter.
TRON is also set to hard fork on February 28. Sun tweeted that the fork would bring multi-signature transactions, a 50% boost in performance and resource usage, and dynamic energy adjustment based on network performance.
#TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go! #TRX $TRX
— Justin Sun (@justinsuntron) February 24, 2019
