BitGo Launches Institutional Custody Services for Flare (FLR) and Songbird (SGB)

Flare, the blockchain for data, today announced that BitGo has launched institutional custody services for Flare (FLR) and Songbird (SGB).

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). A globally regulated and licensed qualified custodian based in the United States, BitGo provides the 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 utilizing BitGo can now engage with 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 (NYSE:ORCL) 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, acts as a canary network for Flare, testing new features in real time ahead of their introduction on the mainnet. Developers can evaluate functionality under live conditions with real economic incentives.

The announcement comes as Flare experiences increasing momentum in institutional circles. Earlier this week, VivoPower (CVE:VPI), a publicly traded firm, announced its plans to allocate one hundred million dollars worth of XRP to the Flare network's DeFi ecosystem, becoming the first major institution to adopt an XRP-based treasury strategy on Flare.

“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 interested in engaging with FLR and SGB through BitGo can contact their client service manager or visit the BitGo website for onboarding information.

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 digital asset custodian serving institutions and exchanges globally. 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.