# Settlements Overview

Source: https://developers.bitgo.com/docs/go-network-settle-overview

## Overview

Settlements on the Go Network enable you to settle multi-asset trades between Go Accounts, off chain. Assets never leave BitGo cold storage, minimizing counterparty risk, and because settlements are off chain, they're quicker and less expensive than on-chain transactions.

> 📘 **Note**
>
> Ticker symbols of assets in Go Accounts use a different naming convention than the ticker symbols used in on-chain wallets. Assets in Go Accounts prepend `ofc` to the ticker symbol, indicating that the asset is off chain. For example, testnet bitcoin within a Go Account is `ofctbc`, whereas in other on-chain wallet types it's `tbtc4`.

## Prerequisites

* [Get Started](/docs/get-started-intro)
* [Deposit Assets](/docs/deposit-assets)
* [Add Counterparties](/docs/go-network-counterparties)

## Steps

The settlement flow depends on who initiates the settlement:

* [Create Settlements](/docs/go-network-settle-create) to initiate the settlement process with your counterparty.
* [Approve Settlements](/docs/go-network-settle-approve) or [Reject Settlements](/docs/go-network-settle-reject) to finalize a settlement initiated by your counterparty.

## See Also

[Counterparties](/docs/go-network-counterparties)