BitGo Expands with Global OTC Trading Desk

BitGo, a major crypto custody firm, has launched an over-the-counter (OTC) trading desk aimed at institutional investors, offering services such as spot and derivatives trading, lending, and yield-generating products. The platform, operational in stealth mode since early 2024, has processed billions in trading volume and developed a lending book exceeding $150 million. This expansion aligns with increasing institutional demand for cryptocurrencies, spurred by the US Presidential election and the growing interest in crypto exchange-traded products. BitGo's OTC desk provides around-the-clock service with over 250 digital assets and integrates with BitGo's Go Network for instant settlement. Simultaneously, BitGo is reportedly considering an initial public offering (IPO) in the second half of 2025, reflecting its strategic growth ambitions. The firm, valued at $1.75 billion in 2023, has positioned itself as a leader in digital asset management, leveraging its qualified custody services to draw institutional investors.