BitGo CEO targets 100% prime brokerage revenue as traditional banks enter crypto custody. 2026-10-06 01:53:16 Key takeaways. * BitGo CEO Mike Belshe announced October 6 the company targets prime brokerage as 100% of revenue. * BitGo launched BitGo Prime in 2020 and currently serves over 6,000 clients with integrated services. * This year BitGo expanded financial services by adding single-point access to liquidity from exchanges and market makers. BitGo, the U.S. digital-asset custodian, plans to make prime brokerage its main growth engine, Bloomberg reported on October 6. CEO Mike Belshe stated he ultimately wants prime brokerage to account for 100% of the company's revenue. The strategic shift moves BitGo beyond asset safekeeping into integrated trading, lending and settlement services, responding to intensifying competition as traditional financial institutions including BNY Mellon, DBS Bank and U.S. Bank enter the digital-asset custody market. Prime brokerage allows clients to keep assets with a custodian while trading on the same platform, borrowing against those holdings and settling transactions. BitGo's strategy builds on custody services to add financial offerings that create new revenue streams. "We want to be a place that helps customers make money, not a place that charges them fees," Belshe said in an interview in Singapore. BitGo CEO sets 100% prime brokerage revenue target. Belshe stated the company is shifting clients from a custody-fee model to a prime-brokerage pricing model. He did not provide a specific timeline for reaching the 100% prime brokerage revenue goal. "Custodying assets, lending against them and offering trading is a natural progression," Belshe said. He added that some customers may still need standalone custody services, such as exchange-traded funds that simply hold Bitcoin. Traditional banks enter digital-asset custody market. Competition is intensifying as traditional financial institutions expand into digital-asset custody. BNY Mellon, DBS Bank and U.S. Bank already offer crypto custody services. Deutsche Bank is also preparing to launch related services. This entry by established financial players creates competitive pressure on specialized crypto custodians like BitGo. BitGo expands services after 2020 prime launch. BitGo now has more than 6,000 clients. The company launched BitGo Prime in 2020. This year, BitGo expanded its financial services while adding a feature that gives users single-point access to liquidity from exchanges and market makers. The additions represent the company's progression from simple custody into integrated financial services. Faq. What is BitGo's prime brokerage revenue target? BitGo CEO Mike Belshe stated he ultimately wants prime brokerage to account for 100% of the company's revenue, though he did not provide a specific timeline for reaching this goal. Which traditional banks now offer crypto custody services? BNY Mellon, DBS Bank and U.S. Bank already offer crypto custody services, while Deutsche Bank is preparing to launch related services. When did BitGo launch its prime brokerage services? BitGo launched BitGo Prime in 2020 and expanded its financial services this year with a feature providing single-point access to liquidity from exchanges and market makers. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

BitGo and HashKey sign multi-pillar strategic partnership spanning staking, trading, custody and RWA tokenization. Business Wire 6-Oct-2026 4:00 AM Leadership from both firms signed an agreement in Singapore during TOKEN2049 week, expanding July's staking collaboration into a broader strategic relationship for eligible institutional clients in the Asia-Pacific region. BitGo Holdings, Inc. (NYSE:BTGO) ("BitGo"), the digital asset infrastructure company, and WanCloud Ltd. ("HashKey Cloud"), the institutional staking and Web3 infrastructure arm of HashKey Group (HKEX: 3887), today formally signed a strategic partnership agreement at a ceremony held at the Fullerton Bay Hotel in Singapore during TOKEN2049 week. The agreement extends the firms' collaboration across four areas of institutional digital asset infrastructure: staking, trading, custody, and real-world asset (RWA) tokenization. The agreement was signed by senior leadership from both companies, including Abel Seow, Managing Director and Head of APAC Sales at BitGo, and Leo Li, CEO of HashKey OnChain BG. Partnership scope: * Staking - HashKey Cloud becomes a validator partner on the BitGo platform, initially supporting Ethereum (ETH) and Solana (SOL) staking for BitGo's eligible institutional client base. * Trading - HashKey Cloud and BitGo will collaborate to support institutional trading flow. * Custody - BitGo will make custody solutions available to HashKey Capital and its associated funds, subject to customary onboarding and applicable agreements. * RWA tokenization - BitGo becomes a custody partner for HashKey's real-world asset tokenization initiatives. "We believe this partnership reflects the depth of institutional demand in Asia, where institutions want regulated infrastructure across the full asset lifecycle, not point solutions, and this partnership brings custody, staking, trading and tokenization together with a partner that shares that standard," said Abel Seow, Managing Director and Head of APAC at BitGo.

BitGo and HashKey Sign Multi-Pillar Strategic Partnership Spanning Staking, Trading, Custody and RWA Tokenization TMCnet News [October 06, 2026] | / | BitGo and HashKey Sign Multi-Pillar Strategic Partnership Spanning Staking, Trading, Custody and RWA Tokenization BitGo Holdings, Inc. (NYSE: BTGO) ("BitGo"), the digital asset infrastructure company, and WanCloud Ltd. ("HashKey Cloud"), the institutional staking and Web3 infrastructure arm of HashKey Group (HKEX: 3887), today formally signed a strategic partnership agreement at a ceremony held at the Fullerton Bay Hotel in Singapore during TOKEN2049 week. The agreement extends the firms' collaboration across four areas of institutional digital asset infrastructure: staking, trading, custody, and real-world asset (RWA) tokenization. The agreement was signed by senior leadership from both companies, including Abel Seow, Managing Director and Head of APAC Sales at BitGo, and Leo Li, CEO of HashKey OnChain BG. Partnership scope: * Staking - HashKey Cloud becomes a validator partner on the BitGo platform, initially supporting Ethereum (ETH) and Solana (SOL) staking for BitGo's eligible institutional client base. * Trading - HashKey Cloud and BitGo will collaborate to support institutional trading flow. * Custody - BitGo will make custody solutions available to HashKey Capital and its associated funds, subject to customary onboarding and applicable agreements. * RWA tokenization - BitGo becomes a custody partner for HashKey's real-world asset tokenization initiatives. "We believe this partnership reflects the depth of institutional demand in Asia, where institutions want regulated infrastructure across the full asset lifecycle, not point solutions, and this partnership brings custody, staking, trading and tokenization together with a partner that shares that standard," said Abel Seow, Managing Director and Head of APAC at BitGo. The agreement combines BitGo's institutional digital asset infrastructure with HashKey's regulated presence in Hong Kong. "As institutional adoption of digital assets accelerates in Asia, HashKey's regulated footprint in Hong Kong and BitGo's global custody standard give institutions a trusted pathway across staking, trading, custody, and tokenization," said Leo Li, CEO of HashKey OnChain BG. Services described in this releae are available only to eligible clients and only where permitted by applicable law and regulatory requirements in each jurisdiction. Nothing in this release constitutes an offer or solicitation in any jurisdiction in which such an offer or solicitation would be unlawful. About BitGo BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com. About HashKey Cloud HashKey Cloud is an institutional-grade staking and yield infrastructure provider under HashKey Holding Limited (HK.3887). Providing node validation services since 2018, it covers mainstream public chains and Layer 2 ecosystems, continuously delivering institutional-grade digital asset staking infrastructure and on-chain yield solutions for global institutional investors, funds, and underlying protocols to help institutional clients seamlessly access the Web3 yield ecosystem. Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the highly volatile nature of digital assets, technical issues in connection with the integration of supported digital assets and changes and upgrades to their underlying network, heightened scrutiny of our industry and operations, the theft, loss, or destruction of private keys required to access any digital assets held in custody for our own account or for our clients, errors in executing client transactions or managing our own trading activities, and the other factors discussed in BitGo's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 27, 2026, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While BitGo believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and BitGo does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws. View source version on businesswire.com: https://www.businesswire.com/news/home/20261006536177/en/ [ Back To TMCnet.com's Homepage] |