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Quantum BioPharma Partners with BitGo to Securely Store its Crypto Currency Assets
Globenewswire· 2025-05-21 12:00
Core Viewpoint - Quantum BioPharma Ltd. has partnered with BitGo Trust Company to manage and store its cryptocurrency assets, including Bitcoin, Solana, XRP, and DOGE coin, enhancing its security and compliance as a public company [1][2]. Company Overview - Quantum BioPharma is a biopharmaceutical company focused on developing innovative assets and biotech solutions for neurodegenerative and metabolic disorders, as well as alcohol misuse disorders [3]. - The company is advancing its lead compound, Lucid-MS, which is designed to prevent and reverse myelin degradation associated with multiple sclerosis [3]. - Quantum BioPharma retains a 22.95% ownership stake in Celly Nutrition Corp., which markets the product unbuzzd™, and is entitled to a 7% royalty on sales until total payments reach $250 million, after which the royalty will decrease to 3% [3]. Partnership with BitGo - BitGo will provide institutional-grade custody services, including multi-signature wallets and 100% cold storage technology, to protect Quantum's cryptocurrency assets from theft and unauthorized access [2]. - The partnership aligns with Quantum's priorities for security and compliance as it expands its engagement with cryptocurrency assets [2][3]. Industry Context - The collaboration with BitGo reflects a broader trend where institutions like Quantum are shaping the future of digital finance, emphasizing the need for secure and compliant infrastructure [3][5]. - BitGo is recognized as a leading provider of digital asset solutions, serving thousands of institutions and handling a significant portion of Bitcoin network transactions [5].