BitGo Buys NYDIG Trading Arm for Comprehensive Crypto Platform

BitGo has entered into a definitive agreement to acquire NYDIG's institutional trading business. This move will significantly expand BitGo's product offerings and enable it to offer a more comprehensive suite of services to its institutional clients.

The acquisition includes approximately 250 institutional client relationships and 30 NYDIG employees, who will join BitGo as part of the deal. This is expected to provide BitGo with a tried-and-true institutional trading business that complements its current custody, trading, and settlement capabilities.

According to BitGo CEO Mike Belshe, institutions are looking for providers that can offer a holistic service for digital assets, from custody to trading, financing, and settlement. The acquisition is expected to allow BitGo to retain more client funds and trading activity on its platform.