OKCoin chooses BitGo as a global security partner

OKCoin, the popular Chinese cryptocurrency exchange, and blockchain security company BitGo today announced a new partnership bringing BitGo’s enterprise wallet and treasury management tools to the OKCoin consumer wallet with testing for future use on the OKCoin Exchange.

BitGo processes more than $1 billion in transactions monthly, and also partners with many of the largest bitcoin exchanges in the U.S. and Europe. While each customer installation is unique, the pillars of BitGo’s platform is an enterprise bitcoin wallet, corporate treasury, and key management solutions.

Star Xu, CEO of OKCoin, commented:

“OKCoin has been testing BitGo for a long time and our collaboration with BitGo is a reflection that we recognize the benefits of multi-sig and other advanced tools for managing the small number of bitcoins we store online. We are committed to doing this in the most responsible way, with the best security and systems in place.”

Further strengthening its platform is just one of the areas where OKCoin has been expanding in recent months…

They also recently added a key executive to their leadership team, Tim Byun as Chief Risk Officer. Byun was previously Chief Compliance Officer at BitPay. He also led Visa’s Anti-Money Laundering Program, in addition to serving four years at the United States Federal Deposit Insurance Corporation and twelve years at the United States Federal Reserve Bank of San Francisco.