BitGo Launches Full-Service Institutional Trading Platform, BitGo Prime

gepubliceerd op by Cointele | gepubliceerd op

BitGo, a United States-based firm that handles about 20% of all Bitcoin transactions, is introducing BitGo Prime, a new entity specifically for institutional trading services.

On May 27, BitGo said that the new prime broker platform will incorporate multiple services targeting institutional investors.

After launching an institutional-level crypto lending service in March 2020, the new full-service platform integrates institutional crypto lending, trading and custody services.

Apart from the recent launch of institutional crypto lending services, BitGo has been actively working with institutional traders.

"BitGo has always been focused on servicing institutional investors. What's different here is that we've launched a prime broker business to deeply integrate the services of lending, trading and custody."

BitGo says that the new platform allows trading from insured cold storage that is offered exclusively to BitGo Prime clients, whose assets are held with regulated custodian BitGo Trust.

At the initial launch, BitGo Prime will feature trading for the top-two cryptocurrencies - Bitcoin and Ether - and the United States dollar, the firm said.

BitGo Prime traders will remain undisclosed to market makers.

As part of its new institutional-grade prime platform, BitGo promises to ensure anonymity for traders.

BitGo Prime clients remain "Completely anonymous" while trading, with the platform itself being their sole counterparty.

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