Bitgo Acquires NYDIG's Institutional Trading Business

Bitgo has acquired NYDIG's institutional trading business, expanding its digital asset infrastructure into trading, derivatives, finance, and payment sectors. The terms of the deal were not disclosed. This acquisition broadens Bitgo's service offerings for institutional investors and includes NYDIG's institutional trading-related operations. Specific products, customer segments, and jurisdictions were not revealed. Bitgo has been continuously expanding its institutional trading infrastructure this year, announcing in January that it would enhance its derivatives trading capabilities on its OTC platform. In July, it launched a global liquidity layer service and connected GateUS to its high network off-exchange payment network. In the institutional digital asset market, custody and trading are managed as separate risks, and Bitgo presents a structure that allows access to trading liquidity while keeping assets in regulated custody accounts. According to Bitgo's Q2 earnings report, the number of customers reached 5,833, platform assets totaled $65.2 billion, and total revenue amounted to $4.3294 billion. The terms and closing date of this acquisition have not been disclosed, and Bitgo's strategy for expanding its institutional infrastructure will be further defined following the integration of NYDIG's trading business.

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