Crypto custody specialist BitGo is diversifying through the acquisition of digital securities platform Harbor. Financial terms were not disclosed.
BitGo has established itself at the forefront of crypto custody, providing institutional investors with security, compliance, and custodial solutions.
The firm is used by hundreds of crypto exchanges around the world and claims to secure billions of dollars in assets and to process over 20% of all global bitcoin transactions.
The Harbor acquisition covers the digital securities platform, as well as broker-dealer and transfer agent subsidiaries, extending BitGo's capabilities and laying the foundation for a full-stack digital assets solution.
Mike Belshe, CEO, BitGo, says: “Our vision has always been bigger than wallets and custody and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services.
“We believe participants will ultimately need trusted, full-stack solutions for digital currencies and now BitGo is well positioned to address institutional requirements as the market develops.”