BitGo Expands Global OTC Trading, Eyes IPO Amid Institutional Demand

BitGo Inc., a leading player in the cryptocurrency custody sector, has expanded its operations by launching a global digital asset over-the-counter (OTC) trading service. The move aligns with BitGo’s ambitions for an initial public offering (IPO) in response to surging demand from institutional investors, particularly hedge funds. As a leading digital asset custodian in the US, BitGo facilitates secure storage solutions for digital currencies.

The new OTC trading division offers a suite of services, including spot trading, options trading, and bespoke lending solutions to enhance margin trading capabilities for institutional clients. Established clients have already begun utilizing these services, with reported trading volumes exceeding billions of dollars and lending activities surpassing $1 billion. Notably, the platform’s reach extends beyond the United States, incorporating markets in Hong Kong and the Middle East, thus amplifying its global footprint.