The cryptocurrency assets under BitGo's management surged.
The value of cryptocurrency assets managed by BitGo Inc. has increased from $60 billion to $100 billion in just the first six months of the year. Abel Seow, Vice President for the Asia-Pacific region, stated that this increase is equivalent to 66%, reflecting heightened interest from both institutional and individual investors in the cryptocurrency economy.
This breakthrough increase is driven by peak interest from individual investors, the accelerating adoption rate of digital assets, and greater transparency about the legal framework in key regions.
Trust in cryptocurrency is increasing, specifically through the demand for secure and tightly managed custody services.
A key factor contributing to BitGo's asset boom is 'staking' – a method of locking Tokens in blockchain networks to support transaction validation, thereby earning attractive passive income.
Currently, BitGo Staking accounts for up to 50% of total assets under management, indicating that the strategy of generating profits from staking is becoming a core trend for modern digital investors.
BitGo expands its global market.
Founded in 2013 with secure cryptocurrency wallet services, BitGo has now become a comprehensive digital bank, providing additional trading, lending, and borrowing services for clients, including institutional investors and blockchain businesses.
In the past year, BitGo has rapidly expanded into international markets. In September 2024, BitGo Korea was launched in collaboration with Hana Financial Group and SK Telecom – the two largest financial and telecommunications groups in South Korea.
Abel Seow confirmed that the joint venture is 'progressing positively' and has begun serving high-net-worth individual clients as well as institutional investors in the region.
At the beginning of 2025, BitGo officially opened a branch in Dubai, entering the rapidly developing digital asset ecosystem there. Dubai has emerged as a thriving cryptocurrency hub due to business-friendly regulatory policies and investor appeal.
BitGo's expanding influence reflects a major trend in the cryptocurrency industry; companies are no longer focusing solely on the traditional U.S. and European markets but are expanding into regions with favorable regulations and high smartphone penetration.
BitGo prepares for IPO as the cryptocurrency market heats up.
BitGo is preparing for a public stock offering that could take place in the second half of 2025, according to Bloomberg. This move aims to capitalize on the wave of native cryptocurrency companies looking to tap into the public market with improved investor confidence and an increasingly friendly regulatory environment.
This IPO strategy involves significant policy changes in the United States under President Donald Trump, with a clearer pro-cryptocurrency stance since his return.
BitGo was valued at $1.75 billion in a $100 million funding round in 2023. The underwriting group includes Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners, all of whom are strategic shareholders of the company, helping to predict the investors participating in the IPO.
During the current term, there have been many cryptocurrency-friendly personnel appointments, efforts to pass stablecoin legislation, and even cryptocurrency projects from the Trump administration. This change creates a more favorable and predictable environment for cryptocurrency companies to expand and attract capital from institutional investors.
Source: https://tintucbitcoin.com/bitgo-quan-ly-100-ty-usd-tien-dien-tu/
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