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VerifiedX and BitGo sign MOU to expand qualified custody for vBTC

The deal includes immediate support for vBTC.b and is aimed at institutions seeking qualified custody for a non-synthetic Bitcoin token with native redemption built into its architecture.

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VerifiedX announced it has signed a Memorandum of Understanding with BitGo to provide qualified custody support for vBTC, a Bitcoin asset issued through the VerifiedX Network and deployed on Base, according to a press release published by Bitcoin Magazine.

Under the agreement, institutions, asset managers, family offices, corporations, and professional allocators will be able to custody vBTC after final integration, while the release says they can immediately custody vBTC.b through BitGo’s qualified custody infrastructure.

The release describes vBTC.b as a fully collateralized, non-synthetic, on-chain and consensus-embedded Bitcoin token with native redemption built into the asset architecture, designed to allow holders to redeem directly back to Bitcoin without first unwinding through the VerifiedX network.

Bitcoin Magazine also cited Jay Pollak, Head of Strategy at the VerifiedX Foundation, saying institutions have asked for qualified custody and non-synthetic productive Bitcoin, and that the partnership is intended to deliver both.

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