BitGo expands services with new global OTC trading platform
BitGo global OTC trading platform
BitGo, a leading crypto custody firm, has unveiled a global over-the-counter (OTC) trading platform designed to meet the growing institutional demand for digital asset services.
The platform will offer spot and derivatives trading, lending, and yield generation, providing a comprehensive suite of financial products to clients worldwide, according to Crypto News.
The California-based company announced that the OTC desk had been operating in stealth mode since early 2024, recording billions in trading volume and a lending book exceeding $150 million. The firm’s expansion into trading marks a significant step in its mission to cater to institutional investors seeking secure and efficient access to crypto markets.
Institutional demand fuels BitGo’s trading expansion
The launch of the OTC desk comes as institutional interest in digital assets continues to rise. BitGo’s platform will provide 24/7 global trading coverage, ensuring access to liquidity in all major time zones. The company plans to support more than 250 digital assets, reinforcing its position as a key player in the crypto financial services sector.
The trading desk is led by industry veterans Matt Ballensweig, a former Genesis and Bridgewater executive, and Stefan Von Haenisch, previously with OSL Group. "Having seen many market cycles and understanding what works and what doesn’t, we’ve built an institutional-grade trading desk that offers what others can’t," Ballensweig said in a statement.
Founded in 2013, BitGo provides digital asset custody services to over 2,000 institutional clients across 90 countries. The company has also been reportedly considering an initial public offering, signaling its continued growth in the rapidly evolving crypto industry.
BitGo Inc., one of the largest cryptocurrency custodians in the U.S., is considering an IPO as early as the second half of 2025. The company, valued at $1.75 billion after raising $100 million in 2023, is in talks with potential advisors.
