BitGo, a cryptocurrency custody, infrastructure, and liquidity solutions provider, has acquired Brassica, a FinTech infrastructure solutions provider, for an undisclosed amount.
Brassica offers back-end services for the alternative assets industry via API-enabled infrastructure. This includes multi-asset custody, advanced capital formation solutions, and efficient record-keeping and transfer agent services.
The acquisition of Brassica will enable BitGo to provide infrastructure support for both traditional private securities and blockchain-based assets. The company plans to integrate Brassica's products across its platform to drive innovation and product development.
Analyst QuickTake: Bitgo has made significant strides to strengthen its position in the DeFi space after it raised USD 100 million in Series B funding in August of last year. Having earmarked the newly raised funds for making strategic acquisitions, this news marks the second acquisition the company has made since it acquired HeightZero , a crypto asset management platform, in October of last year.
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