BitGo expands institutional services, secures Riot’s custody
4.6 Investments BitGo launches Global Markets after acquiring NYDIG’s trading unit, expanding institutional services. Riot Platforms transfers bitcoin custody to BitGo, securing 2,418 BTC with new security guarantees.
BitGo has unveiled Global Markets, a new division designed for institutional clients that integrates trading, liquidity, crypto-backed financing, and derivatives services. This launch follows BitGo’s acquisition of NYDIG’s institutional trading business in August, bringing on board about 30 NYDIG employees under the leadership of Pete Janney. Global Markets consolidates BitGo Prime’s offerings, providing spot and OTC trading, financing, options, swaps, and collateral management. BitGo is also enhancing its digital asset management services with new yield and financing options, aiming to attract NYDIG’s client base and strengthen its sector position. In parallel, Riot Platforms has completed the transfer of its digital asset custody from NYDIG Trust Company to BitGo Bank & Trust. The transfer, executed without penalties, places 2,418 BTC (valued at roughly $202 million) under BitGo’s care, with new agreements ensuring commercially reasonable security measures for the assets.
