BitGo Takes the Lead with Acquisition of NYDIG's Institutional Trading Business
BitGo, a cryptocurrency infrastructure company, has acquired NYDIG's institutional trading business and related assets. This marks BitGo's entry into a consolidation phase for institutional service infrastructure in the crypto industry.
The acquisition is expected to enhance BitGo's trading and infrastructure capabilities, bringing in an experienced team to serve a broader range of sophisticated clients. Upon completion, approximately 30 NYDIG employees and 250 institutional client relationships will be transferred to BitGo.
This move is a natural extension of BitGo's long-term strategy, which uses custody as its foundation and gradually layers trading services on top. The company has been expanding its over-the-counter trading platform and bolstering its derivatives team to pave the way for integration.