• Bitget has launched a Fund Custody Service which provides dedicated wallets to qualified accounts to maximize protection of customers‘ funds.
• The service requires users to store more than or equal to 100,000 USDT worth of combined assets on the platform.
• The exchange recently released a Merkle tree Proof of Reserves to show that customer assets are held in 1:1 reserves.
Bitget, a leading crypto exchange, has launched a Fund Custody service for professional investors and institutions. The service provides dedicated wallets to qualified accounts to maximize the protection of customer funds. Qualified accounts must hold more than or equal to 100,000 USDT worth of combined assets including spot, futures, and perpetual contracts, to use the Fund Custody service.
The Fund Custody service is designed to provide extra security to customers who have large amounts of funds and assets stored on the platform. Dedicated wallets provide an extra layer of security, as customer assets are held in accounts that are independent from the exchange. All customer funds and assets are also held in 1:1 reserves, as evidenced by the Merkle tree Proof of Reserves recently released by the exchange. This proof periodically verifies the balances of all customer accounts, ensuring that all customer funds and assets are held securely.
The Fund Custody service also provides a range of features to ensure the safety of customer funds. For example, it includes a dual-control security system which requires two independent signatures for any transactions, as well as a multi-factor authentication system for all withdrawals.
The launch of the Fund Custody service is part of Bitget’s ongoing commitment to providing a secure and reliable platform for its customers. The exchange has implemented a number of security measures over the years, including multi-signature wallets, anti-phishing measures, and cold wallet storage. The Fund Custody service is the latest in a long line of security measures, further demonstrating Bitget’s commitment to its customers.