“Institutions need a lot more than an app with pretty charts,” Mike Belshe, BitGo’s CEO, said in a statement. “They need proper security, which includes technology, people and processes, and they need exceptional client service.”

Launched in 2011, Bitstamp is one of the crypto industry’s oldest trading platforms, and one of the few exchanges to provide valid trading data, according to crypto ranking platform TokenInsight.

BitGo processes roughly 15 percent of the world’s Bitcoin transactions, and processes more than $20 million in crypto trades each month, according to the firm.