According to a latest report from Bloomberg, the Crypto Bitgo Inc. police custody has introduced an over-the-counter global shopping office for digital assets as part of its public appointment plan.
Bitgo Eyes Public Listing
With an increasing demand for cryptocurrencies of institutional investors, BitGo is expanding its services. In addition, the company, one of the largest guards based in the United States for digital assets, would consider a first public offer, according to sources earlier this month.
Bitgo, based in Palo Alto, California, is said to be in talks with potential advisers on a possible public list in the second half of this year. In 2023, the company lifted $ 100 million to an evaluation of $ 1.75 billion, with investors including Goldman Sachs, DRW Holdings, Redpoint Ventures and Valor Equity Partners. Although the discussions are underway, no final decision has been made.
New over -the -counter negotiation office for institutional customers
The new OTC office in Bitgo will offer institutional investors trading points and options, as well as loans to facilitate trading of margins, the company announced. Since the beginning of last year, he has been serving customers selected with billions of dollars in volume of negotiation and a loan book of more than $ 100 million. The office is available not only in the United States, but also in Hong Kong and several countries in the Middle East.
The trade in digital assets has dropped considerably after the collapse of the Crypto Exchange FTX in 2022, followed by the failure of main lenders such as Genesis, Blockfi and Celsius Network. Consequently, investors have fewer leverages effects during the current Haussier market of cryptography, which was partly motivated by the pro-scriptto position of US President Donald Trump.
Bitgo plans to use its guardian network, allowing investors to exchange and exchange assets directly without relying on third -party childcare providers. “This expansion on the capital markets and trade is only a natural extension of the place where we want to be,” said Matt Ballensweig, head of trade in Bitgo.
