BitGo Targets Prime Brokerage for Revenue Growth

BitGo Holdings Inc., a US-based crypto custodian that completed its public listing this year, is setting its sights on prime brokerage as the cornerstone of its growth strategy. The company plans to expand its trading, financing, and settlement services, with the goal of making prime brokerage its primary revenue driver. In an interview from Singapore, co-founder and CEO Mike Belshe stated, "We would like it to be 100% of our revenue."

Belshe emphasized the company’s shift from being a cost center to a profit-generating service. He highlighted the desire to help clients make money rather than just charge them for custody. "Nobody wants to pay for custody. We don’t want to charge you for custody," he said, underscoring the strategic pivot toward higher-margin services.

The move comes as BitGo seeks to differentiate itself in a competitive market by focusing on value-added services beyond traditional custody solutions. By expanding its prime brokerage offerings, the company aims to attract more institutional clients looking for comprehensive financial services in the crypto space.