Crypto custody giant BitGo has officially launched a global over-the-counter (OTC) crypto trading desk.
The new platform will provide spot and derivatives trading for more than 250 cryptocurrencies to clients across all major time zones, along with lending, yield generation, and custody services to institutional investors worldwide.
BitGo claimed it had been operating the service in “stealth mode” since early 2024, and this global launch is a response to the increasing institutional interest in digital assets. In its press release, the company stated that the platform had already recorded billions in trading volume and built a lending book exceeding $150 million.
The new venture is led by industry veterans Matt Ballensweig, a former executive at Genesis and Bridgewater, and Stefan Von Haenisch, previously with OSL Group.
Ballensweig, now BitGo’s Managing Director and Head of Trading, emphasized that the platform was designed to give clients the ability to execute trading without risks.
“Our integrated OTC offering gives clients the ability to execute with a full-service desk across spot, derivatives, and lending, all while their assets stay protected in qualified custody until the time of settlement,”
he stated.
This new venture builds upon BitGo’s established presence in the digital asset space. Founded in 2013, BitGo has grown into a leading digital asset custody provider, serving over 2,000 institutional clients across 90 countries. It provides regulated crypto custody, lending, and infrastructure services to US institutions and reports having $100 billion in assets under custody.
The company has steadily expanded its product suite since then. It launched a retail-focused platform in December 2024. BitGo claimed the launch of the platform, which was designed to offer secure trading, staking, wallets, and qualified custody services to individual investors, was a bold step to bridge the gap between institutional-grade crypto services and retail investors.
This OTC trading desk launch comes amid speculation that BitGo is preparing for an initial public offering (IPO).
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