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Palo Alto based BitGo was founded in 2013 by Chief Executive Officer Mike Belshe. It offers digital wallets that require multiple signatures for transactions, as well as offline vaults for storing Bitcoin and rival currencies.
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PayPal announced on Wednesday that its customers can buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop at the 26 million merchants on its network. The announcement led Bitcoin to surge past $13,000 for the first time since July 2019. PayPal said it would partner with BitGo competitor Paxos Trust Company, a regulated provider of cryptocurrency products and services for its new service.
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