BitGo has announced the launch of its OTC trading desk while it has activated consultations to assess whether to launch its own IPO by the end of 2025. The well-known cryptocurrency custodian could soon join the list of crypto companies aiming for a stock market listing.
BitGo and the launch of OTC trading
BitGo, a well-known cryptocurrency custodian, announced the official launch of its global over-the-counter (OTC) trading desk for digital assets.
According to its announcement, the new service is a fully integrated platform that combines spot and derivatives trading, lending, and yield-generating products, all within BitGo’s regulated and insured framework.
In this regard, Matt Ballensweig, Managing Director, Head of Trading, stated:
“Our integrated OTC offering provides clients with the ability to execute trades with a full-service desk on spot, derivatives, and lending, while their assets remain protected in qualified custody until the time of settlement. Then we leverage the BitGo Go network to settle activities at the same time, reducing the widespread pre-funding risk that underlies our market structure.”
The crypto custodian claims that the new over-the-counter trading service is primarily aimed at meeting the needs of institutional traders who are seeking efficiency, liquidity, and security.
Compared to the competition, BitGo emphasizes that its new OTC trading desk sources liquidity from dozens of exchanges and LPs, ensuring highly competitive prices and access to dynamic order types.
Not only that, among other peculiarities, BitGo allows VC and hedge fund clients to buy and sell locked or unvested L1 tokens. This is a unique capability, which BitGo claims has been made possible due to its position as the preferred qualified custodian for major protocols.
BitGo and the evaluations on launching its IPO by the end of 2025
Speaking specifically about BitGo, it has recently emerged that the crypto custody company is considering the idea of launching its own IPO by the end of 2025.
Bloomberg stated this, adding BitGo to the list of crypto companies aiming for a bull listing on the bear stock exchange.
Specifically, BitGo seems to be initiating talks with potential advisors to evaluate the possibility of launching its own initial public offering and thus getting listed on the stock exchange.
BitGo celebrated its 10 years of career last 2023, securing a Series C funding round of 100 million dollars. Among its main supporters stand out names like Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
In any case, besides BitGo, the crypto-exchange of Gemini has made headlines with its possibility of going public by launching its own IPO.
The reimbursement of FTX
In the meantime, BitGo (together with Kraken) is also proceeding to facilitate the newly started reimbursements of FTX. And indeed, just yesterday, the failed crypto-exchange announced that it had sent the first cycle of reimbursements.
On X, BitGo has published a post to help FTX creditors on how to navigate its platform in order to recover their funds.
Not only that, FTX has also already scheduled the next distribution for May 30, 2025, with applications that must be registered by April 11.
Source: https://en.cryptonomist.ch/2025/02/19/bitgo-officially-launches-otc-trading-while-considering-an-ipo-by-the-end-of-2025/