Dubai, UAE, June 12th, 2025,
Chainwire
Flare, the blockchain for data, today
announced that BitGo has launched institutional
custody services for Flare (FLR) and Songbird (SGB). BitGo, a
globally regulated and licensed
qualified custodian based in the United States, provides secure
storage infrastructure used by many leading digital asset platforms
and financial firms. This collaboration represents a meaningful
step forward as Flare expands its reach to regulated and
compliance-focused markets.
Institutions using BitGo can now store and manage FLR and SGB
tokens through qualified custody or self-custody setups. Both hot
and cold wallet options are available, offering flexibility for
institutions managing these assets. Staking functionality and
additional integrations will follow in the coming months.
Flare is an EVM-compatible Layer 1 network designed to support
applications that rely on real-world data. It features built-in
data protocols such as the Flare Time Series Oracle for delivering
accurate price feeds, the Flare Data Connector for integrating
external and cross-chain information, and the FAssets system, which
brings assets like BTC, XRP, and DOGE into the world of
decentralized finance.
Songbird, Flare’s canary network, operates as a real-time
testbed for new features before they are introduced on the Flare
mainnet. Developers use Songbird to evaluate functionality under
live conditions with real economic incentives.
The announcement comes as Flare gains momentum in institutional
circles. Earlier this week, VivoPower, a publicly traded firm,
became the first major institution to adopt an XRP-based treasury
strategy on Flare, allocating one hundred million dollars worth of
XRP to the network’s DeFi ecosystem.
“Partnering with a well-established, U.S.-based qualified
custodian like BitGo is a key milestone in Flare’s institutional
journey,” said Hugo Philion, CEO and co-founder of Flare. “BitGo’s
reputation, regulatory credentials, and support for segregated
accounts make them an ideal partner as we prepare to launch
products that require compliant custody solutions. We’re proud to
work with BitGo to expand secure access to FLR and SGB for
institutions worldwide.”
In the coming period, BitGo will introduce staking for FLR,
delegation support for Wrapped Flare (WFLR), integration with
Flare’s token standard, and compatibility with the Flare
P-Chain.
Institutions seeking to engage with FLR and SGB through BitGo
can reach out to their client service manager or visit the BitGo
website for onboarding details.
About Flare
Flare is a smart contract platform built to bring external data
on-chain securely and at scale. It supports data-intensive use
cases including machine learning, asset tokenization, gaming, and
social platforms. With enshrined oracles integrated directly into
its network, Flare enables developers to access a wide range of
data sources while maintaining decentralization and trust
minimization.
About BitGo
BitGo is a United States based digital asset custodian serving
institutions and exchanges across the globe. Recognized for its
regulatory standing and compliance credentials, BitGo offers
custody solutions including segregated accounts and qualified
custodianship. The company is licensed by the New York Department
of Financial Services and provides services designed to meet the
needs of professional digital asset holders.
Contact
Ami
Tsang
ami@flare.network
