Floki is a cryptocurrency gaining popularity as a rival to the Shiba Inu. According to the latest news, Floki has announced a strategic partnership with BitGo, a major crypto custodian. This partnership comes about a month after Floki established a similar collaboration with platforms like Binance Pay and AliExpress.
Meme coin is posting the development on Twitter. announced and BitGo is a dominant force in the crypto market with over $64 billion in managed assets. The FLOKI team also highlighted that BitGo has an impressive range of top investors, including industry giants such as Goldman Sachs, Jump Capital, Redpoint and Galaxy Digital.
This partnership is seen as a strong support for Floki’s growth strategy. Strategic partnerships and collaborations play an important role as competition is increasing in the cryptocurrency world. This partnership of Floki with BitGo can increase users’ trust and help Floki reach a wider audience.
In addition, the announcement of this partnership shortly after Floki established a similar cooperation with Binance Pay and AliExpress can be considered as a sign that shows the growth potential of Floki. These collaborations demonstrate that Floki is taking strategic steps to strengthen its position in the rapidly evolving cryptocurrency ecosystem and expand its user base.
Besides, it’s worth noting that BitGo has faced some legal challenges lately. The company had agreed to sell Galaxy Digital for $1.2 billion in May 2021, but the deal was canceled last August. BitGo later filed a lawsuit against Galaxy Digital, which was also dismissed. The judge in the case decided that Galaxy had “a valid basis” to end the settlement.
FLOKI Community Responses
FLOKI’s tweet about the partnership garnered over 32,000 interactions, showing the community’s enthusiasm for the collaboration.
A member of the meme coin community expressed his satisfaction, stating that the official partnership with BitGo will undoubtedly advance FLOKI’s journey forward.
A prominent crypto phenomenon celebrated the FLOKI-BitGo partnership, emphasizing that institutional exchanges require custody integration before listing a coin.
$FLOKI partnership with BitGo is a big deal! 🔥️️
Institutional exchanges won’t list without custody first.
BitGo is the top custody partner for #Robinhood, Fidelity Digital, and other top exchanges. Many of them require a crypto custody partnership like this before listing.… https://t.co/hEvNziazyI
— Shelby (@CryptoNewton) July 5, 2023
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Source : the crypto basic