ChainCatcher report, according to The Block, digital asset infrastructure company BitGo Holdings (BTGO) has announced the launch of BitGo Global Markets, its new institutional trading and financial solutions division, integrating global liquidity, trade execution, financing, derivatives, and settlement services. The division is led by former NYDIG executive Pete Janney, following BitGo’s acquisition of NYDIG’s institutional and trading business on August 27.
After the acquisition, approximately 30 employees joined BitGo, bringing expertise in derivatives, financing, collateral services, and structured products. Janney initially joined the company as Head of Financial Infrastructure. BitGo has provided institutional trading services since 2020 through BitGo Prime, and this business is now integrated into Global Markets, combining with the derivatives, collateral management, and structured financing capabilities from NYDIG.
Under the new division, BitGo’s Global Liquidity Layer will provide access to spot trading and large-scale over-the-counter (OTC) trading channels, with liquidity sourced from exchanges, market makers, and other counterparties. Clients can collateralize their crypto assets to borrow funds for trading positions, with BitGo handling qualified custody, margin monitoring, and margin calls or liquidations.
The division will also offer options, swaps, and customized structured products to qualified counterparties, along with managed investment strategies, private funds, and research services, with clearing and settlement handled by Go Network. BitGo CEO Mike Belshe stated that Global Markets combines custody, liquidity, trading, financing, and settlement capabilities with deeper capital markets expertise. BTGO rose 3.4% in pre-market trading on Wednesday, following a 3.7% gain the previous day.
BitGo Launches Global Markets Division Led by Former NYDIG Executive
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Summary
BitGo has launched BitGo Global Markets, a new division focused on derivatives analysis and institutional trading. Led by former NYDIG executive Pete Janney, the division integrates custody, liquidity, and financing services. It offers spot trading, OTC access, and structured products. Clients can collateralize their crypto assets to borrow funds, with settlements processed via the Go Network. The division also provides options, swaps, and managed investment strategies. BitGo acquired NYDIG’s trading business, bringing in 30 experts in derivatives and structured products. BTGO rose 3.4% in pre-market trading, following a 3.7% gain. Support and resistance levels for crypto assets will be critical for traders using the new platform.
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