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BitGo Acquires NYDIG's Institutional Trading Business in Strategic Move

Guavy AI Editorial Team
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BitGo has acquired NYDIG's institutional trading business and related assets in a move that will allow its clients to access a broader range of trading and capital markets services.

The transaction, announced on August 31, 2023, allows NYDIG to focus on power generation, bitcoin mining, and data center development. Roughly 30 NYDIG employees joined BitGo as part of the deal, bringing their expertise in institutional trading to the company.

According to BitGo CEO Mike Belshe, institutions increasingly want to work with a trusted partner that can support the full lifecycle of digital assets, including custody, trading, financing, settlement, and capital market services. The acquisition is expected to enhance the 'stickiness' of assets on the platform.

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