- Crypto custody firm BitGo has launched a global over-the-counter (OTC) trading desk, offering spot, derivatives, lending services, and yield products across over 250 digital assets.
- This launch comes amid reports that BitGo is preparing for a potential initial public offering (IPO) in 2025.
What happened: BitGo launches global OTC trading desk amid reported 2025 IPO plans
BitGo, a leading crypto custody services provider, has launched a global over-the-counter (OTC) trading desk for digital assets. The desk, which connects to dozens of liquidity sources, offers spot and derivatives trading across over 250 digital assets, as well as lending services and yield-generating products.
This move comes after reports that BitGo is planning an IPO in 2025, with discussions ongoing with investment banks. BitGo’s managing director, Matt Ballensweig, emphasized that the new desk allows clients to execute transactions securely, with assets remaining in qualified custody until settlement. The platform also offers $250 million in insurance coverage, as well as opportunities for venture capitalists and hedge funds to buy and sell locked layer-1 tokens.
The OTC trading desk’s launch follows a major rise in institutional crypto OTC trading volumes, which increased by 106% in 2024, driven by demand for US spot crypto exchange-traded funds. BitGo’s expansion also includes a global platform for retail investors, which launched in December 2024, offering trading, staking, and wallet services.
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Why it’s important
The launch of BitGo’s OTC trading desk enhances its position in the growing digital asset market. By providing a range of services—including spot, derivatives, and lending—along with robust security measures, BitGo is catering to institutional clients’ need for secure and efficient crypto transactions.
Furthermore, the potential IPO adds to the momentum for crypto companies aiming for public market entry. With crypto adoption and institutional investment on the rise, BitGo’s move could inspire other firms in the sector to follow suit and expand their offerings.
