BitGo Introduces Custody Support for Flare and Songbird Networks
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.
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.
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 hours ago
- Yahoo
Fluor Corp (FLR) – Rallies 11% on Advanced Nuclear Development
We recently published a list of . In this article, we are going to take a look at where Fluor Corporation (NYSE:FLR) stands against other best-performing stocks on Wednesday. Fluor Corp. jumped by 10.97 percent on Wednesday to finish at $49.79 apiece, mirroring the rally in nuclear stocks amid the ongoing progress in nuclear development in the US. The rally was likely boosted by the US Air Force's milestone deal with another small modular reactor (SMR) provider, in line with the United States' plan to ramp up the adoption of nuclear reactor technologies in the country. The optimism spilled over to NuScale Power Corp., in which Fluor Corporation (NYSE:FLR) owns a significant stake. In the first quarter of the year, Fluor Corporation (NYSE:FLR) swung to an attributable net loss of $241 million from a $59 million attributable net income in the same period last year. A close-up of an engineer surveying a large-scale construction project. Revenues increased by 6.7 percent to $3.98 billion from $3.73 billion year-on-year. Fluor Corporation (NYSE:FLR) is a Texas-based engineering, procurement, and construction company that is heavy on building nuclear power plants. Overall, FLR ranks 6th on our list of best-performing stocks on Wednesday. While we acknowledge the potential of FLR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Business Insider
21 hours ago
- Business Insider
BitGo Introduces Custody Support for Flare and Songbird Networks
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. 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. 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.
Associated Press
a day ago
- Associated Press
VivoPower Announces Key Leadership Recruits
Suneet Wadhwa, ex Ripple Head of Investments, joins Board of Advisors David Mansfield, ex VinFast CFO, has joined as group CFO Keith Loose, ex blockchain and tech infrastructure leader, has joined as group CTO LONDON, June 12, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR, 'VivoPower' or the 'Company') is pleased to announce key executive leadership appointments, namely David Mansfield as Chief Financial Officer and Keith Loose as Chief Technology Officer. In addition, Suneet Wadhwa, former Head of Investments at Ripple, has joined the Board of Advisors. David Mansfield brings over 25 years of senior financial leadership experience across global capital markets, financial technology, and sustainable enterprises. He most recently served as Chief Financial Officer (CFO) of VinFast, a global electric vehicle manufacturer where he was a key member of the executive team that led it to a successful US$23 billion initial public offering (IPO) on NASDAQ. Prior to then, Mr. Mansfield held senior roles including as managing director at J.P. Morgan, Credit Suisse, and Goldman Sachs, leading complex capital markets, trading, and structuring functions. He also brings entrepreneurial experience from founding and advising fintech ventures across Asia. Mr. Mansfield will lead VivoPower's financial strategy, capital allocation, statutory reporting and investor engagement functions. Keith Loose joins as Chief Technology Officer with over 20 years of experience at the intersection of enterprise technology, blockchain, and infrastructure architecture. He has held senior technology leadership positions at companies including Block Inc (CashApp Financial Platforms), OSL Group, CLSA, and J.P. Morgan, with a strong focus on security, performance engineering, and financial platform development. At VivoPower, Mr. Loose will oversee the Company's digital transformation, cybersecurity, and the buildout of its digital asset treasury infrastructure. Suneet Wadhwa is a serial tech entrepreneur and executive with a distinguished 30-year career in Silicon Valley. He brings specific experience in the digital asset and decentralized finance industry and his role at VivoPower will be to build out the company's DeFi strategy to generate yield on its XRP treasury and to spearhead DeFi investments in the XRPL ecosystem. At Ripple, Mr. Wadhwa led a US$500 million institutional investment portfolio, delivering a 4.2x MOIC and 77% IRR across 38 global investments. His track record includes successful exits such as BRD (acquired by Coinbase) and strategic positions in Forte, Flare, Kava, BitPay, and Mintable. His expertise will directly support VivoPower's XRP treasury strategy and real-world integration across the XRP Ledger (XRPL). Prior to his role at Ripple, Mr. Wadhwa co-founded Snapfish, which was acquired by HP for US$300 million and was an early employee at @Home Network where he was integral to the company's growth through to their US$35 billion IPO. Kevin Chin, Executive Chairman and CEO of VivoPower, said: 'We are delighted to welcome David, Keith and Suneet to the VivoPower team. Each of them is highly experienced and credentialed in their respective fields, bringing exceptional track records in capital markets, digital asset, decentralized finance and blockchain technology to VivoPower. We have already been working closely with each of them as we execute on a number of significant strategic initiatives across VivoPower.' About VivoPower VivoPower International PLC (NASDAQ: VVPR) is undergoing a strategic transformation into the world's first XRP-focused digital asset enterprise. The Company's new direction centers on the acquisition, management, and long-term holding of XRP digital assets as part of a diversified digital treasury strategy. Through this shift, VivoPower aims to contribute to the growth and utility of the XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications. Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower operates with a global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia. An award-winning global sustainable energy solutions B Corporation, VivoPower has two business units, Tembo and Caret Digital. Tembo is focused on electric solutions for off-road and on-road customized and ruggedized fleet applications as well as ancillary financing, charging, battery and microgrids solutions. Caret Digital is a power-to-x business focused on the highest and best use cases for renewable power, including digital asset mining. Forward-Looking Statements This communication includes certain statements that may constitute 'forward-looking statements' for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'should,' 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower's management's current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower's business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower's filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise. Contact Shareholder Enquiries [email protected]
