According to BlockBeats, digital asset custody provider BitGo has announced its support for Wormhole's native ERC-20 governance token W. As of June 22, users can now store the W token in hot wallets, custodial wallets, and self-managed cold wallets.
BitGo's decision to support the W token expands the options for users to securely store their digital assets. This move is expected to increase the accessibility and usability of the W token, potentially leading to a broader adoption of the Wormhole platform.
The W token is a native ERC-20 governance token of the Wormhole platform. ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. The support from BitGo, a leading digital asset custody provider, is a significant step towards the wider acceptance and use of the W token.
BitGo's support for the W token is part of its ongoing commitment to provide secure and reliable digital asset storage solutions. The company offers a range of services including hot wallets, which are online storage systems; custodial wallets, which are managed by a third party; and cold wallets, which are offline storage systems. These services provide users with a variety of options to store their digital assets securely.
This announcement comes as the digital asset industry continues to grow and evolve. As more users and businesses adopt digital assets, the need for secure storage solutions becomes increasingly important. BitGo's support for the W token is a testament to the company's dedication to meeting this growing demand.