BitGo Announces Support for AVAX Citing Explosive Avalanche Growth

BitGo Announces Support for AVAX

The cryptocurrency firm, BitGo, has added support for AVAX to enable its clients like BitStamp and Bitbuy exchanges to offer the token.

The firm’s CEO, Mike Belshe, says that the significant growth in Avalanche would be a big addition to the business growth. 

The President of Ava Labs, John Wu, welcomes the partnership saying that BitGo is ideal in the institutional adoption of digital assets. 

Avalanche has attracted interest among institutional investors. Bank of America analysts remarked that the blockchain could be an alternative to Ethereum.

The network has seen a surge in decentralized exchange and NFT activities in the recent past. Bitbuy and Bitstamp are reportedly preparing to list AVAX at the start of 2022 via BitGo.

Avalanche is now ranked as the fifth-largest DeFi network with a Total Value Locked of $11.16 billion behind Solana’s $11.72 billion.

BitGo is currently holding more than $46 billion in cryptocurrency investments.

Source: Coindesk

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