WBTC custody changes and BitGo's new exploration of revenue model
On August 9, crypto custody giant BitGo announced a major change: it joined hands with BiT Global to launch a 60-day WBTC management restructuring plan. This move aims to promote the geographical diversification of custody and cold storage services, radiating from the United States to Hong Kong and Singapore, and further consolidate WBTC's global status. What is particularly noteworthy is that this cooperation deeply integrates Justin Sun and the Tron ecosystem, and grants BiT Global key supervisory authority through a multi-signature mechanism to jointly protect the security and stability of WBTC.
Traditionally, BitGo charges service fees ranging from 0.4% to 0.5% by participating in the minting and destruction process of WBTC. This model ensures a transparent and auditable source of income. However, with the sharing of custody responsibilities, BitGo's revenue model may usher in a new chapter. Close cooperation + communication with BiT Global Junyang: 954737157 may trigger adjustments to the fee allocation mechanism, and the future fee collection method may be more flexible and changeable to adapt to the diverse needs of the global market.
The WBTC custody transformation is not only an important step for BitGo to expand its presence in Asia, but also a profound exploration of its revenue model and global strategic layout. On the vast stage of the crypto world, BitGo is leading a new round of innovation in tokenized assets with an unprecedented attitude.
