{"id":13868,"date":"2025-02-19T10:47:02","date_gmt":"2025-02-19T10:47:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13868"},"modified":"2025-02-19T10:47:02","modified_gmt":"2025-02-19T10:47:02","slug":"bitgo-launches-global-otc-trading-desk-ahead-of-planned-2024-ipo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13868","title":{"rendered":"BitGo Launches Global OTC Trading Desk Ahead Of Planned 2024 IPO"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">BitGo, a leading crypto custody services provider, has launched a global over-the-counter (OTC) trading desk for digital assets as it prepares for a potential initial public offering (IPO) later this year. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The new platform aims to meet <\/span><span data-preserver-spaces=\"true\">growing<\/span><span data-preserver-spaces=\"true\"> institutional demand for spot, derivatives, lending, and yield-generating services across the crypto market.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to a 18 <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250218481375\/en\/BitGo-Launches-OTC-Trading-Desk-with-Integrated-Trading-Derivatives-Lending-and-Qualified-Custody\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">February 2025 statement<\/span><\/a><span data-preserver-spaces=\"true\">, BitGo\u2019s OTC desk features access to dozens of liquidity sources, including major crypto exchanges. The platform supports over 250 digital assets and caters to institutional investors seeking a secure and efficient trading experience.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">BitGo\u2019s New OTC Desk Offers Secure Trading Across Spot, Derivatives, and Lending Markets<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Matt Ballensweig, managing director at BitGo, said the new \u201cdesk allows clients to execute trades across spot, derivatives, and lending markets, with assets remaining in qualified custody until settlement, ensuring maximum security.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The platform also offers $250 million in insurance coverage, giving venture capital firms and hedge funds the option to trade locked layer-1 tokens\u2014an asset class often challenging to access through traditional exchanges.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">BitGo\u2019s launch comes amid a surge in institutional OTC crypto trading volumes, which jumped 106% in 2024, driven by renewed investor confidence following U.S. President Donald Trump\u2019s election victory and heightened demand for U.S.-based spot crypto ETFs.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;re formally unveiling <a href=\"https:\/\/twitter.com\/BitGo?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@BitGo<\/a>&#8216;s OTC Trading desk, which offers 24\/7 spot, derivative and lending liquidity to all of our institutional clients globally. <\/p>\n<p>Our edge: Trade while your assets remain in segregated qualified custody and post-trade settle. No &#8220;prefunding&#8221; required. <a href=\"https:\/\/t.co\/CyEKm2TTo2\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/CyEKm2TTo2<\/a><\/p>\n<p>\u2014 Matt Ballensweig (@mtballensweig) <a href=\"https:\/\/twitter.com\/mtballensweig\/status\/1891911510995198205?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 18, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Last December, BitGo expanded its services to retail investors <\/span><span data-preserver-spaces=\"true\">with the launch of<\/span><span data-preserver-spaces=\"true\"> global digital asset solutions, including trading, staking, and wallet offerings.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Meanwhile, according to a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-11\/crypto-custody-firm-bitgo-said-to-weigh-ipo-as-soon-as-this-year\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">recent report from Bloomberg<\/span><\/a><span data-preserver-spaces=\"true\">, BitGo is currently in discussions with investment banks regarding a potential IPO in the second half of 2024. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While no final decision has been made, the company\u2019s public debut could align with a broader trend of crypto firms exploring public listings in the coming year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">BitGo currently manages $100 billion in assets under custody and serves as a regulated crypto infrastructure provider for U.S. institutions. If it proceeds with the IPO, BitGo <\/span><span data-preserver-spaces=\"true\">would<\/span><span data-preserver-spaces=\"true\"> join a growing list of crypto companies, including Circle, Kraken, and Chainalysis, expected to go public in 2025.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Notably, Coinbase paved the way for crypto firms entering public markets with its Nasdaq listing in 2021. BitGo\u2019s potential listing could further solidify institutional trust in the evolving crypto financial landscape.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">BitGo Obtains License in Singapore<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Last year, BitGo <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/this-week-in-crypto-asia-bitgo-secures-mpi-license-in-singapore\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">obtained<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. The\u00a0<\/span><span data-preserver-spaces=\"true\">license<\/span><span data-preserver-spaces=\"true\">\u00a0allows BitGo to provide regulated crypto payment services, including custody and trading solutions, for its Singaporean clientele.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In August 2023, BitGo, based in\u00a0Palo Alto, California,\u00a0raised $100 million\u00a0in Series C financing at a $1.75 billion valuation. At the time, the company planned to use the funds for strategic acquisitions and global expansion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">More recently, it was revealed that South Korea\u2019s leading telecom and financial giants, SK Telecom and Hana Financial Group, have become major shareholders in the Korean branch of BitGo.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/buy-bitcoin\/paypal\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Buying Bitcoin with PayPal (Beginner\u2019s Guide)<\/span><\/a><br \/>\n<\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">BitGo has launched a global OTC trading desk, offering spot, derivatives, lending, and yield-generating services.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">The platform supports over 250 digital assets and provides $250 million in insurance coverage.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">BitGo is preparing for a potential IPO in late 2024.<\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitgo-launches-global-otc-trading-desk-ahead-of-planned-2024-ipo\/\">BitGo Launches Global OTC Trading Desk Ahead Of Planned 2024 IPO<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitGo, a leading crypto custody services provider, has launched a global over-the-counter (OTC) trading desk for digital assets as it prepares for a potential initial public offering (IPO) later this year. The new platform aims to meet growing institutional demand for spot, derivatives, lending, and yield-generating services across the crypto market. According to a 18 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13868","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13868"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13868\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}