BitGo has announced the debut of its OTC trading desk, and it has begun discussions to determine whether it will issue its IPO by the end of 2025. The well-known cryptocurrency custodian may soon join the ranks of crypto businesses seeking a stock market listing.
Summary
• BitGo, a cryptocurrency custodian, has officially opened its worldwide over-the-counter (OTC) trading desk for digital assets.
• The service includes spot and derivatives trading, lending, and yield-generating products within a regulated and insured framework.
• BitGo’s integrated OTC solution aims to address the demands of institutional traders seeking efficiency, liquidity, and security.
• The new OTC trading desk draws liquidity from dozens of exchanges and LPs, ensuring competitive rates and access to dynamic order types.
• BitGo allows VC and hedge fund customers to buy and sell locked or unvested L1 tokens.
• BitGo is in negotiations with potential consultants about having its IPO and becoming a stock exchange-listed company.
• BitGo, in collaboration with Kraken, is working to support the recently launched FTX reimbursements.
• FTX has set the next payout for May 30, 2025, with applications due by April 11.
BitGo, a well-known cryptocurrency custodian, today announced the formal opening of its worldwide over-the-counter (OTC) trading desk for digital assets.
According to BitGo’s statement, the new service is a fully integrated platform that includes spot and derivatives trading, lending, and yield-generating products, all inside a regulated and insured framework.
Matt Ballensweig, Managing Director and Head of Trading, expressed the following:
Customers can conduct transactions with a full-service desk, derivatives, and loans using our integrated OTC solution, and their assets remain in qualified custody until settlement. The BitGo Go network is then utilised to settle operations simultaneously, thereby reducing the widespread pre-funding risk that forms the foundation of our market structure.
The crypto custodian argues that the new over-the-counter trading service is primarily designed to address the demands of institutional traders seeking efficiency, liquidity, and security.
In comparison to the competition, BitGo notes that its new OTC trading desk draws liquidity from dozens of exchanges and LPs, ensuring very competitive rates and access to dynamic order types.
In addition, among other features, BitGo allows VC and hedge fund customers to buy and sell locked or unvested L1 tokens. BitGo argues that its position as the chosen certified custodian for key protocols has enabled this unique capacity.
Bitgo’s Evaluations Regarding Its IPO by the Conclusion of 2025
Recently, it came to light that BitGo, a crypto custody business, is considering launching its IPO by the end of 2025.
Bloomberg said that BitGo has joined the list of cryptocurrency startups vying for a bull listing on the bear stock market.
BitGo appears to be in negotiations with prospective consultants about having its initial public offering and therefore becoming a stock exchange listed company.
BitGo marked its tenth anniversary in 2023 with a $100 million Series C fundraising round. Among its key sponsors are Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
In any event, in addition to BitGo, Gemini, a cryptocurrency exchange, has made news of its potential to go public through its initial public offering.
The Compensation for FTX
Meanwhile, BitGo (in collaboration with Kraken) is working to support the recently launched FTX reimbursements. Indeed, only yesterday, the collapsed cryptocurrency exchange declared that it had completed the first round of payments.
On X, BitGo issued an article to assist FTX creditors in navigating its platform to collect their cash.
Not only that, FTX has already set the next payout for May 30, 2025, with applications due by April 11.
Also Read: FTX Users Get Payouts Under $50K
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