The crypto custody services firm BitGo introduced its global OTC trading desk for digital assets while making preparations for an IPO during the current year.
The new OTC trading platform features multiple exchange liquidity sources and enables spot and derivatives trading of more than 250 digital assets and provides lending services and yield-generating products, according to the official announcement.
The 2024 election of Donald Trump, combined with growing interest in spot crypto exchange-traded funds caused institutional crypto OTC trading volumes to increase by 106%, according to Finery Markets data.
BitGo’s managing director Matt Ballensweig explained that clients can trade through a complete platform which secures their assets in qualified custody until settlement takes place. The OTC trading service of BitGo provides $250 million insurance coverage which enables venture capitalists and hedge funds to trade locked layer-1 tokens.
BitGo announced in December 2022 its plans to launch a worldwide version of retail digital asset solutions which would duplicate established crypto exchange features including trading, staking and wallet capabilities.
The future public launch of BitGo has experts anticipating multiple major crypto firms will list their equity on public markets during 2025 after Coinbase’s historic Nasdaq listing in 2021.
The robust services and innovative solutions of BitGo establish the company as a significant participant in the developing cryptocurrency market.
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