Digital asset infrastructure provider and qualified custodian BitGo has launched an over-the-counter (OTC) trading desk, which includes integrated trading, derivatives, lending, and qualified custody.
The mentioned platform supports spot trading and derivatives trading, locked token transacting, lending and yield-generating products, and instant settlements. The relevant information is contained in the company’s press release, which was published last Tuesday, February 18.
Matt Ballensweig, managing director, head of trading at BitGo, stated that the firm’s integrated OTC offering gives customers the ability to execute with a full-service desk in areas of spot, derivatives, and lending. Also, in this context, it was separately noted that the assets of clients remain under the protection in qualified custody until the moment of settlement. Matt Ballensweig stated that BitGo’s Go Network is being used to settle assets at the same time. In this case, the hyper-prevalent prefunding risk is minimized, which underlies the company’s market structure.
The press release contains information according to which Go Network is the firm’s settlement infrastructure, launched in 2023 and allowing customers to receive proceeds in cryptocurrency or cash instantly.
Since the beginning of 2024, BitGo’s OTC trading desk has been operating in stealth mode. The relevant information is also contained in the press release.
In that time, the platform processed billions of trading volumes and built a lending book of over $150 million, which is servicing leading asset managers. This was mentioned in the press release.
As we have reported earlier, Robinhood Plans to Launch Crypto Products in Singapore.
