XRP News Today: BitGo's Assets Under Custody Surge 67% to $100 Billion in 2025

BitGo, a leading digital asset trust company, has witnessed a remarkable surge in its assets under custody, reaching $100 billion in the first half of 2025. This represents a 67% increase from the $60 billion reported at the start of the year. The company's Asia-Pacific managing director, Abel Seow, credited this growth to the rising global adoption of cryptocurrencies and improved regulatory clarity.

BitGo's strategic initiatives and expansion efforts have been pivotal in driving this growth. The company has been actively involved in various projects, including the integration of its Go Network with KuCoin for off-exchange settlement. This integration enhances trust and security for institutional trades as part of KuCoin’s Trust Project. Additionally, BitGo facilitated a $250 million XRP acquisition for VivoPower’s treasury and expanded support for the XRP ecosystem, including staking for Flare and Songbird.

BitGo's international expansion has also been significant. In 2024, Hana Financial Group and SK Telecom purchased shares in BitGo Korea, and the joint venture has been progressing well. BitGo also began operations in Dubai in 2025, further strengthening its global presence.

Beyond custody growth, BitGo has made several strategic moves. The company unveiled plans to build custody and settlement tools on the Hedera (HBAR) network to power institutional decentralized finance. It also partnered with HTX to offer secure, insured off-exchange trading for large clients via its Go Network.

Given its impressive growth and strategic initiatives, BitGo is now considering an initial public offering (IPO) as early as the second half of 2025. This move would mark a significant milestone for the company, joining a growing number of cryptocurrency firms looking to go public. The potential IPO comes at a time when the U.S. government has shown increased support for the cryptocurrency industry, with pro-crypto regulators and stablecoin-specific legislation being advocated for.

BitGo's journey to an IPO is supported by its strong financial backing. In 2023, the company raised $100 million in its Series C fundraising round, achieving a valuation of $1.75 billion. Notable investors included Valor Equity Partners, DRW Holdings, Redpoint Ventures, and Goldman Sachs.

The company's assets under custody are evenly split between staking and other services. Staking, a yield-generating process where users pledge tokens to aid in the validation of blockchain transactions, accounts for half of BitGo’s current holdings. This diversification in services, along with its robust financial performance, positions BitGo as a strong contender in the digital asset custody market.

BitGo's strategic moves and expansion efforts have not only driven its growth but also positioned it as a leader in the digital asset custody space. With a potential IPO on the horizon and a strong financial backing, the company is well-positioned to capitalize on the growing institutional trust in cryptocurrencies.