BitGo and HashKey Cloud Expand Institutional Crypto Services Partnership

BitGo and HashKey Cloud have solidified a strategic partnership covering staking, institutional trading, custody, and real-world asset (RWA) tokenization. The agreement, signed during TOKEN2049 week in Singapore, builds on a staking collaboration that began in July. Under the new terms, HashKey Cloud will act as a validator partner on the BitGo platform, initially supporting Ethereum and Solana staking for eligible institutional clients.

The collaboration extends to institutional trading flows and custody solutions. BitGo will provide custody services to HashKey Capital and its associated funds, while also supporting HashKey’s RWA tokenization efforts. Both companies emphasized that the services will be available only to eligible clients and in compliance with local regulations.

BitGo CEO Mike Belshe outlined a broader strategic shift for the company, aiming to make prime brokerage its core business. In an interview with Bloomberg, Belshe expressed his vision for prime brokerage to eventually account for 100% of BitGo’s revenue. He argued that the company can create more value by facilitating trading and financing of digital assets rather than relying on custody fees alone.

BitGo has been expanding its infrastructure to support this shift, including the launch of its BitGo Prime platform and BitGo Link in August. The partnership with HashKey Cloud adds another institutional relationship to BitGo’s growing network, aligning with Belshe’s strategic direction.