coindesk.com
Institutional crypto custody firm BitGo is partnering with The NEAR Foundation to support its protocol, assets, and native token, NEAR.
“By nature of our business, it's really important for us to capture and support all the leading blockchains in the entire industry,” said BitGo VP of Product Nuri Chang
BitGo, Chang told CoinDesk, is “eager to support the NEAR ecosystem,” noting its sharding technology makes it enticing for developers.
As part of the deal, BitGo will custody NEAR’s treasury, staking it in the company’s hot and custodial wallets. BitGo did not disclose the amount of NEAR it will hold.
NEAR has had two nine-figure capital raises in 2022, with a $150M round in January and then a $350M round less than three months later. Its NEAR (NEAR) token has tumbled alongside the rest of the crypto market, but is higher by 14.5% over the past 24 hours.