Brinks, a US company specializing in the transportation of valuables such as cash and Pocket cards, partners with Web3 storage giant BitGo

Brink’s Web3 deployment

Brink’s, a U.S. company founded in 1859 that stores cash and precious metals and transports them in armored trucks, has announced that it has made a strategic investment in and partnered with BitGo, a crypto asset (virtual currency) storage company. According to foreign cryptocurrency media The Block, details of the transaction have not been made public, but there are no changes to the composition of the boards of directors of both companies.

Through this partnership, Brink’s will become BitGo’s physical storage and logistics provider. In recent years, as crypto companies have invested hundreds of billions of yen worth of cryptocurrencies on behalf of their customers, Brink’s has provided support for fragmented master keys and physical hardware security modules (HSMs). Expected to take on the role.

Furthermore, it is a move in preparation for the trend of tokenization of RWA (real-world assets). In fact, Brink’s has partnered with NFT marketplace Courtyard, which tokenizes collector’s items, to securely store Pokémon cards and other items.

connection:Turning Pokémon cards into NFTs, Courtyard launches digital collectibles market with Polygon

“Partnering with Brink’s was a strategic decision as many assets have the potential to be digitally tokenized,” said BitGo Vice President Baylor Myers. “Brink’s will continue to dedicate resources to the digital asset space,” he added.

connection:Why investors are interested in real asset tokenization and what is Real World Assets (RWA)?

What is BitGo?

BitGo is Web3’s leading custodian with over 1,500 customers in over 50 countries. “In an increasingly digital world, Brink’s, a global leader in physical security and logistics, is proud to partner with BitGo, a leader in digital asset security and custody,” said Zach McKenna, Digital Asset Manager at Brink’s. It’s a natural progression.”

BitGo raised $100 million in a Series C round in August 2023, with a company valuation of $1.75 billion (approximately 250 billion yen).

connection:BitGo to offer NFT wallet and custody for institutional investors

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