On August 11th, according to the official blog of BitGo, BitGo and BiT Global are creating a joint venture to diversify WBTC's custody business and cold storage business across multiple jurisdictions. BitGo will become a minority shareholder of the new joint venture. This custody change will be seamless and transparent for the WBTC community, with a transition period of 60 days. The new scheme will use the same BitGo multi-signature technology and cold storage technology used to protect Bitcoin since 2019.