BitGo, a digital asset custody service provider, has officially launched its over-the-counter (OTC) business, covering spot and commodity trading, lending and settlement services, and deeply integrating with its compliant custody system. It is reported that since its low-key operation in early 2024, the trading platform has processed a large number of transactions and established over $150 million in lending business.

This business is led by Matt Ballensweig, who previously worked at Genesis and Bridgewater, and Stefan von Haenisch, who comes from OSL Group. BitGo's OTC trading platform supports 24/7 trading across multiple time zones worldwide, covering over 250 types of digital assets. One major feature of its trading model is that customer assets do not need to leave BitGo's compliant custody system before settlement, which aims to reduce prepayment risks in the market.

Baranswig stated that the trading platform was established based on the experience of multiple market cycles, with the aim of filling some gaps in the institutional cryptocurrency trading market. He pointed out, "Our OTC trading platform integrates spot, commodity, and lending services, and customer assets are still protected by qualified custody before settlement." In addition, BitGo uses its own Go Network for trading settlement, allowing customers to complete fund delivery without transferring funds to other market makers on the chain first.

In addition to standard OTC trading, BitGo also supports locked in or unlocked Layer 1 token trading, which is mainly aimed at venture capital firms and hedge funds to meet their trading needs in early cryptocurrency investments. In addition, the company provides diversified liquidity access, covering exchanges and market makers, supporting multiple trading strategies and order types

BitGo's entry into the OTC trading market is consistent with its overall layout of promoting the integration of custody, trading, and settlement. At present, the company operates in multiple jurisdictions and focuses on institutional customer service. The launch of this trading platform further expands its role in the digital asset ecosystem, and may continue to adjust and optimize its business model in the future.