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BitGo adds support for 57 ERC-20 tokens

On Tuesday blockchain security company BitGo announced it has expanded its custody services, adding support for 57 new ERC-20 assets.

The list includes several native tokens for decentralized cryptocurrency exchanges. Among the additions are also Kin (KIN), the crypto coin of chat messaging app Kik, Civic (CVC), a token tied to a system of blockchain-based identity service, and Dent (DENT), which was recently listed on Binance.

All of the cryptocurrencies added by BitGo have been requested by institutional investors amid growing demand for crypto-custody services.

The company’s expanded ERC-20 coverage follows its April release of 13 Ethereum assets. The total number of supported tokens is set to reach 100 by the end of the year, BitGo revealed. Regarding the company’s future plans, BitGo is looking to obtain a BitLicense in New York and a qualified custodian license in South Dakota.