BitGo Supports HyperEVM in Hyperliquid Ecosystem
BitGo, a leading provider of secure custody solutions, has announced its support for HyperEVM in the Hyperliquid ecosystem. This move brings secure access and custody for institutional users looking to participate in the Hyperliquid ecosystem.
Summary
– BitGo has expanded its custody solution to institutions participating in Hyperliquid’s HyperEVM.
– The platform now supports HYPE custody, self-custody, and governance.
In a recent update, BitGo revealed that its custody solution is now live for Hyperliquid (HYPE), providing institutional investors with access to HyperEVM. This integration enables qualified custody for institutional investors, allowing them to engage more deeply in the leading on-chain trading ecosystem. Users can leverage BitGo’s secure custody service as they interact with assets on the HyperEVM, including the native token HYPE.
With this support, users can access self-custody wallets, decentralized applications, and participate in governance. The platform’s offerings extend to stablecoins, staking solutions, settlement, real-world assets, collateral, and wealth management.
BitGo’s announcement follows Anchorage Digital Bank’s recent addition of custody support for HYPE, further enhancing institutional-grade security within the HyperEVM ecosystem.
Hyperliquid’s Growth
HyperEVM serves as the Ethereum-compatible smart contract layer of Hyperliquid, playing a crucial role in its decentralized finance traction. Currently, the Hyperliquid L1 boasts over $2.53 billion in total value locked and a stablecoin market cap exceeding $5.58 billion.
As interest in DeFi continues to rise, BitGo’s support will enable institutional clients interested in Hyperliquid to confidently engage with the platform’s ecosystem.
Recently, spot volumes on the platform reached a new 24-hour all-time high of $3.5 billion, coinciding with increased Bitcoin and Ethereum deposits. This milestone positions Hyperliquid as the second-largest trading venue for spot BTC on both centralized and decentralized exchanges.
The growing interest in HYPE within the Hyperliquid ecosystem has driven open interest in the altcoin to a new all-time high, currently standing at $2.17 billion according to data from Coinglass.
In conclusion, BitGo’s support for HyperEVM in the Hyperliquid ecosystem reinforces the platform’s commitment to providing secure and accessible solutions for institutional users looking to engage in decentralized finance. The integration of BitGo’s custody services enhances the overall security and functionality of the HyperEVM ecosystem, opening up new opportunities for institutional participation and growth.