BitGo acquires digital securities platform 19 February 2020Palo Alto Reporter: Maddie Saghir
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BitGo is set to acquire Harbor, the digital securities platform, as well as its broker-dealer and transfer agent subsidiaries.
The acquisition will extend BitGo’s capabilities to address a wider class of digital assets for institutional investors and provide a foundation for a full-stack digital assets solution.
BitGo provides institutional clients with security, custody, and liquidity solutions for digital assets.
The acquisition of Harbor follows BitGo’s acquisition of Hedge, which formed the foundation of BitGo Staking.
According to Josh Stein, CEO of Harbor, the digital securities platform will provide “important service capabilities” through its digital assets broker-dealer and transfer agent subsidiaries.
Stein said: “We believe participants will ultimately need to be trusted, full-stack solutions for digital currencies and now BitGo is well-positioned to address institutional requirements as the market develops.”
“BitGo has been an important partner since Harbor’s inception. We’ve worked closely together to integrate BitGo Business Wallets and BitGo Custody into Harbor’s service,” he added.
Meanwhile, BitGo’s CEO, Mike Belshe, said: “Our vision has always been bigger than wallets and custody, and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services.”
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