BitGo: Success Story in Staking Security

Introduction to BitGo partnership

In January, Luganodes partnered with one of Web3’s leading security companies, BitGo. This collaboration was driven by a clear purpose: to ensure the highest levels of security and service. Over the past nine months, Luganodes has supported BitGo in delivering industry-leading staking services across multiple chains, while BitGo, the first purpose-built qualified custodian for digital assets, has provided custody services for Luganodes' clients. The partnership continues to grow, much like the companies themselves.

Luganodes' staking integration with BitGo has also expanded over this time. In this case study, we reflect on our involvement, as BitGo continues to make an even larger global impact.

"Luganodes' expertise in staking services has played an important role in supporting BitGo’s ability to provide secure and scalable staking solutions. Their focus on security and smooth integration has helped us better serve our institutional clients."

Daniel Du

Senior Product Manager, BitGo

About BitGo

Founded in 2013 and headquartered in Palo Alto, California, BitGo is a pioneering company in the digital asset space, offering institutional-grade custody, wallets, staking, trading, financing, and settlement out of regulated cold storage. As one of the earliest innovators in cryptocurrency security, BitGo has played a critical role in shaping the infrastructure of the digital asset economy. Initially recognized for developing the first multi-signature wallet, BitGo would go on to build TSS to improve MPS for other companies.

In 2018, BitGo expanded its offerings with the launch of BitGo Trust Company, providing fully regulated, qualified cold storage, complementing the hot wallet solutions provided by BitGo Inc. BitGo is one of the few custodians regulated in the United States, ensuring compliance with high standards of security and regulation. Its custody services are further strengthened by the launch of BitGo Prime in 2020, offering trading, borrowing, and lending services to institutional clients.

With its rapid expansion and industry-wide trust, BitGo created a full-fledged suite of security solutions. In addition to its core offerings, BitGo provides access to DeFi, staking, and NFT wallets, while also serving as the exclusive custodian for Wrapped Bitcoin (WBTC), a tokenized version of Bitcoin on the Ethereum blockchain, which has now expanded with a partnership with LayerZero

Institutional Trust in BitGo

BitGo was the first company in the digital asset space to focus solely on institutional clients, providing regulated cold storage along with custody, wallets, staking, trading, financing, and settlement services.

BitGo offers a wide range of services, from custody provision to a full suite of financial services. One of its key offerings is Token Management, which simplifies token compensation, distribution, custody, and staking from pre-mainnet to launch and beyond. Serving over 1,500 institutional clients across 50 countries, BitGo supports more than 800 tokens across various chains. It also processes around 20% of all Bitcoin transactions globally by value, highlighting its significant role in the market.

BitGo Further Growth

BitGo’s remarkable growth trajectory has been driven by the strong trust it has built within the industry, which continues to fuel its success. Recently, BitGo received approval under the SIX Exchange Regulation Crypto-Asset Rule, enabling the company to expand its operations within Europe’s crypto market. This approval allows BitGo to provide regulated custodial services that comply with Swiss financial regulations.

Similarly, BitGo was granted a Major Payment Institution license by the Monetary Authority of Singapore (MAS), empowering the company to offer regulated digital payment token services, including custody and trading, in Singapore. Additionally, South Korean telecom and financial giants SK Telecom and Hana Financial Group acquired shares in BitGo’s Korean branch.

With its trusted security solutions, BitGo is steadily expanding its presence across Europe and Asia, providing institutions with a comprehensive digital asset management platform.

Staking Service Overview

Staking has become the backbone of the cryptocurrency industry, particularly as more blockchain networks transition to the Proof-of-Stake (PoS) model. By allowing validators to lock assets and participate in network security, staking plays a vital role in the blockchain economy. It’s also an attractive option for institutions looking to earn rewards while supporting the stability of the network. BitGo, with its premier custody and security solutions for institutions, has naturally expanded its offerings to include staking, using trusted white-label staking providers like Luganodes.

BitGo enables secure staking directly from its self-custody hot wallets or insured custody wallets, protecting clients' capital while earning blockchain rewards. Clients can easily select from a variety of supported assets, delegate their tokens, and start earning rewards immediately after the blockchain confirms the transaction.

The platform’s user-friendly interface allows institutions to manage their staked assets and view rewards in real time. With staking available for major tokens such as Ethereum, Solana, and SUI, BitGo provides a comprehensive solution for institutions seeking both security and scalability in their staking operations.

Luganodes Staking Integration with BitGo

Since its inception, Luganodes has maintained a strong focus on serving institutional clients by designing a staking service that prioritizes security, compliance, and trust. Over time, Luganodes has cultivated close partnerships and is now the staking backbone for many industry leaders.

The common objective of BitGo and Luganodes—delivering secure, high-quality staking services to institutional clients—has brought the two companies together. Luganodes now stakes prominent tokens such as SUI, NEAR, and Solana, among others. Their close working partnership allows the companies to continuously evaluate new networks, with a shared goal of expanding and enhancing in-custody staking offerings.

Luganodes is recognized as a top-tier AAA-rated staking infrastructure provider. With an unwavering commitment to maintaining 99.9% uptime and round-the-clock node monitoring, Luganodes has firmly established itself as a leader in the staking industry. BitGo has benefited from Luganodes' staking expertise, highlighting the company's substantial growth over the years.

As a preferred staking provider for many institutional clients, Luganodes is distinguished by its dedication to security and regulatory compliance. It is the first staking provider to achieve SOC 2 Type II compliance, adhere to GDPR, and secure ISO 27001 certification. With over $3 billion in staked assets, Luganodes continues to grow rapidly, reinforcing its status as a leader in the staking infrastructure space.

"Our partnership with BitGo has allowed us to showcase our expertise in staking while delivering the highest standards of security and trust to institutional clients. Together, we are setting new benchmarks in the industry, and we're excited to continue driving innovation in Web3 infrastructure."

Anuj Shankar

CEO, Luganodes

Premium Customer Experience

As with all esteemed clients, BitGo received a white-glove customer experience throughout the entire integration process. From onboarding to staking the designated tokens, BitGo was provided with full transparency into Luganodes' staking operations, with a particular emphasis on security. This ensured that the trust BitGo users have in its security could seamlessly extend to Luganodes.

After nine months of partnership, the teams at BitGo and Luganodes continue to work closely, not only to maintain the existing staking infrastructure but also to evaluate and expand into new networks, creating additional opportunities for BitGo users. Luganodes remains proactive, always ready to develop solutions that enhance and strengthen the client experience.

Our dedicated team of solutions architects, account managers, and support agents has worked in close collaboration with BitGo. From the early planning phases to the production launch, Luganodes has consistently addressed queries, resolved issues, and managed unexpected challenges with expertise and efficiency.

BitGo, one of the biggest names in crypto, is also one of our most valued clients. Our long-standing partnership with BitGo allows us to demonstrate our staking expertise to crypto power users and institutions globally. This mutually beneficial relationship continues to grow, and we are confident it will reach even greater heights in the future.

Work with Luganodes

Just like BitGo, your organization can also take advantage of our top-tier Web3 infrastructure. As a rapidly expanding company, we are enthusiastic about forming new collaborations and cultivating enduring relationships. If our offerings resonate with your needs, please feel free to reach out to us at [email protected].