Summary: BitGo has partnered with ShapeShift.io to allow users to send and receive Altcoins directly from their BitGo wallet. This new functionality comes from BitGo integrating the ShapeShift.io exchange API directly into their wallet software. It is important to note that any Altcoins sent or receieved are instantly exchanged for Bitcoin; this does not allow you to directly hold Altcoins with the BitGo wallet.
As a reminder, BitGo is a multi-signature wallet where the user holds two keys and BitGo holds one, automatically signing transactions initiated by the user. Multi-signature wallets are, in theory, more secure than “traditional” single key wallets.
Article & Image Source: ShapeShift.io Blog