BitGo buys NYDIG trading arm to deepen institutional crypto push
BitGo completed its acquisition of NYDIG’s institutional trading business, adding about 30 employees and expanding its derivatives and financing capabilities.
BitGo has acquired the institutional trading business of Bitcoin infrastructure company NYDIG, adding derivatives and financing capabilities as it expands services for institutional crypto clients.
BitGo said it completed the acquisition of NYDIG’s institutional trading business under a definitive agreement, the company announced Thursday. The transaction includes NYDIG’s institutional client trading relationships and about 30 employees who joined BitGo. The companies did not disclose financial terms.
The acquired business provides derivatives, structured products, financing and capital markets services to clients including asset managers, hedge funds and companies. BitGo CEO Mike Belshe said the acquisition will “meaningfully scale” the company’s trading and infrastructure capabilities and allow it to serve a broader range of institutional clients.