BitGo

BitGo is a multi-signature wallet and digital asset custody solutions provider that exclusively focuses on serving institutional clients. The company's products range from regulated custody and wallet solutions (such as hot wallets, custodial wallets, self-managed cold wallets, and NFT Wallets) to trading, staking, lending, and borrowing solutions. As of August 2023, the company supported over 700 assets on its platform and secured ~20% of all on-chain Bitcoin transactions by value. Moreover, in November 2023, the company was granted a crypto custody license by the German Federal Financial Supervisory Authority (BaFin).

The company’s BitGo Prime solution lets users lend and borrow from the company as a single counterparty. Lenders can earn returns, while borrowers can take out tailored collateralized loans with transparent re-rates and agreed-upon conditions. Users can also earn yields by staking funds directly from their BitGo wallets (either hot wallets or insured custody wallets) or interacting with external DeFi staking protocols via the platform’s Metamask Institutional (MMI) integration. 

Furthermore, the company provides infrastructure for users to create and manage their own wallets, access liquidity, and build trading solutions via software development kits (SDK) and application programming interfaces (API). 

BitGo has also made a number of acquisitions to strengthen its position in the DeFi space. These include 1) Hedge (October 2019), a staking infrastructure provider, to support the launch of BitGo staking; 2) Harbor (February 2020), an asset tokenization platform, to extend its capabilities to a wider class of digital assets and acquire hold broker-dealer, transfer agent, and qualified custodian licenses; and 3) HeightZero (October 2023), a crypto asset management platform, to offer secure and regulated custody products to HeightZero’s client base of asset managers and regulated investment advisors (RIAs). 

In February 2024, It went on to acquire Brassica, a FinTech infrastructure solutions provider, for an undisclosed amount. The acquisition enabled BitGo to integrate Brassica's products across its platform and provide support services such as multi-asset custody, capital formation solutions, record-keeping, and transfer agent services.

Key customers and partnerships 

As of April 2024, the company served 1,500 institutional clients in 50 countries, including Fortune 100 clients such as Nike as well as digital asset and Web3 companies such as Swan, Mysten, Bitbuy, Coinjar, and Rain.