BitGo and Upexi Partner to Secure Digital Asset Treasury with $100M Investment Commitment

BitGo announces a partnership with Upexi to secure its digital asset treasury. Upexi will use BitGo's custodial and over-the-counter trading services to manage its portfolio, which includes over 595,000 Solana tokens. The collaboration follows a $100M investment commitment from GSR.

BitGo, a leading infrastructure provider of digital asset solutions, has announced a strategic partnership with Upexi Inc. (NASDAQ: UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space [1]. Under this partnership, Upexi will leverage BitGo’s secure custodial and over-the-counter (OTC) trading services to manage its growing digital asset portfolio.

This collaboration comes on the heels of Upexi’s recent announcement that it has increased its Solana (SOL) treasury holdings to over 595,000 tokens, valued at approximately $100 million at current value, and has begun generating staking revenue as part of its broader crypto treasury strategy [1]. The partnership aims to provide a safe and secure environment for Upexi and its shareholders, as both public and private companies continue to expand the allocation of corporate treasury assets to digital assets [1].

Nathan Stump, Director at BitGo, stated, “As both public and private companies continue to expand allocation of corporate treasury assets to bitcoin and other digital assets, we are excited to work with Upexi to provide a safe and secure environment for not only the organization but also its shareholders” [1].

The partnership is designed to accelerate innovation and alternative treasury diversification, aligning with Upexi’s broader digital asset strategy and bolstered by a recent $100 million investment commitment from GSR [1]. By integrating BitGo’s institutional infrastructure, Upexi reinforces its commitment to responsible crypto asset management while capitalizing on the emerging opportunities in decentralized finance.

Andrew Norstrud, CFO of Upexi Inc., commented, “Partnering with BitGo supports our commitment to prudent treasury management and financial innovation. Securing our digital assets with a regulated, institutional-grade custodian enhances our risk management framework while enabling us to responsibly capitalize on the opportunities within the crypto economy. This decision aligns with our broader goal of driving sustainable, long-term value for our shareholders” [1].

References:
[1] https://www.marketscreener.com/quote/stock/UPEXI-INC-124007868/news/BitGo-and-Upexi-Announce-Strategic-Partnership-to-Secure-Digital-Asset-Treasury-Holdings-49929660/