BitGo is a leading regulated custodian in over 50 countries and processes 20% of all on-chain Bitcoin transactions by value. And this year, BitGo saw a 60% increase of new clients, 20% growth in AUC, and 40x growth in assets staked, showing tremendous confidence in BitGo’s products and services.
Fortune 100 clients such as Nike have utilized BitGo’s secure and scalable wallet-as-a-service solution to navigate the regulatory landscape. And leading Bitcoin businesses like Swan and new Web3 projects including Mysten, have used BitGo as their Qualified Custodian to safeguard their customer assets.
BitGo also announced $100 million in Series C financing from new, outside strategic investors with a valuation of $1.75 billion. This funding round will be used to make strategic acquisitions and expand its secure and regulated custody, wallet, and infrastructure solutions globally.
Since January 2023, BitGo has seen a 60% increase in newly onboarded clients, a 20% increase in AUC, a 200% increase in fiat custody, and a 40x growth in staked assets. And BitGo is also the custody provider for the FTX creditors funds under John Ray III’s leadership and had been previously chosen as the distributor for Mt. Gox creditors.
The funding announcement follows BitGo’s launch of Go Network, which enables institutions to trade and settle both digital assets and fiat 24/7 from secure custody.
KEY QUOTE:
“Not only are we seeing growing demand for regulated custody solutions in the US, but we’re also seeing the demand on a global scale. We are very pleased to announce our $100M Series C for the purpose of meeting this growing need and to provide institutions, brands, coin foundations, and others with secure and seamless participation in the digital asset ecosystem.”
— CEO Mike Belshe
