Based

United

Galaxy

Bitcoin

After over a decade of offering digital asset services to institutional clients, BitGo is now expanding into the retail market.
According to a Dec. 2 announcement, BitGo is launching a global version of its digital assets solutions for retail investors, similar to crypto exchange platforms, including trading, staking, and wallet services. Users will also be able to use BitGo’s regulated custody through cold and self-storage.
Based in California, BitGo claims to serve over 1,500 clients across more than 50 countries, including companies like Nike and over 150 crypto exchanges. Competition for institutional clients has intensified in recent months, with several newcomers entering the digital asset market to meet the demands of institutional investors. Having targeted institutional clients since 2013, BitGo is now diversifying its strategy to include retail users.
“The retail crypto market often struggles with a lack of reliable custody solutions and concerns over exchange reliability. BitGo aims to bridge this gap by providing secure custody services,” a spokesperson for BitGo told Cointelegraph.&nbsp;
The number of crypto users worldwide is <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-users-1-billion-2024-bitfinex-analysts-prediction" rel="noopener noreferrer nofollow" target="null" text="null" title="null">estimated to climb to one billion</a> by the end of 2024.&nbsp;<iframe width="100%" height="315" src="https://www.youtube.com/embed/3k-A0MP_xVE" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
 Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitgo-singapore-launch-mas-license-apac-expansion" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BitGo launches MAS-regulated crypto exchange in Singapore</a>
The company is said to have partnered with several banks and institutions to integrate crypto trading and off-exchange settlement, though it has not disclosed in which countries and currencies these services are available.&nbsp;
BitGo’s valuation touched $1.75 billion in August 2023 after the company <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitgo-raises-100-million-after-losing-lawsuit-against-galaxy" rel="noopener noreferrer nofollow" target="null" text="null" title="null">closed a $100 million Series C</a> financing round from investors in the United States and Asia. Previous backers include investment bank Goldman Sachs, DRW Holdings and Galaxy’s venture capital arm, Galaxy Digital Ventures.
In another move to diversify its business, BitGo announced in September its entry into the stablecoin market with an <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitgo-rewarding-stablecoin-usds" rel="noopener noreferrer nofollow" target="null" text="null" title="null">upcoming stablecoin pegged to the US dollar</a>. BitGo also <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bit-go-launches-regulated-custody-platform-native-protocol-tokens" rel="noopener noreferrer nofollow" target="null" text="null" title="null">revealed plans</a> for a regulated platform for custody and managing native tokens for Web3 protocols. According to the company, the platform will enable crypto-native organizations to programmatically manage native token distribution to investors, employees and grant recipients.&nbsp;&nbsp;
BitGo also <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/anchorage-bitgo-joining-coinbase-custody-21shares-crypto-etfs" rel="noopener noreferrer nofollow" target="null" text="null" title="null">serves as a custodian</a> for Bitcoin exchange-traded funds (ETFs) in the US, providing cold storage for issuers such as Valkyrie, Hashdex, and 21Shares.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-four-years-grow-cant-be-shut-down-kain-warwick-infinex/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex</a>

BitGo expands into retail market with new trading platform

Cointelegraph

Other articles published on Dec 2, 2024

Japan Crypto Exchange DMM Bitcoin Shuts Down Following Major Hack and Losses

Crypto’s Top Meme Picks: Why BTFD, Baby Doge, and DOGS Are the Best Meme Coins to Buy and Hold fo...

Crypto Prices Today, December 2: XRP and Hedera Lead Crypto Gains as BTC Tests $100K Resistance

Valour Launches the First Dogecoin Exchange-Traded Product

Bitcoin Price Climbs Ahead of Presidential Election

Bitcoin Looks Weak After Failed Attempt to Clinch $100K— A Deeper Pullback to $90,000 Could be Fa...

Join our free newsletter for daily crypto updates!