BitGo, a financial services platform turned crypto custodian, announced on Wednesday the launch of its main brokerage platform, which offers digital asset trading services to its institutional clients.
Dubbed BitGo Prime, the services are exclusive to the company's custodian customers.
The brokerage service will allow users of BitGo Trade directly using your holdings in the custody of BitGo.
Initially, BitGo Prime customers need to keep full funds in their accounts, however, the company assured that it has plans to offer operators with accounts without funds through a line of credit in the future.
The platform will operate as a subsidiary of Bitgo Holdings and is registered as a separate entity. Nick Carmi, Head of BitGo Financial Services, has been named CEO of BitGo Prime.
Expanding beyond custody services
The company also ensured complete anonymity in the execution of operations for its institutional clients, along with deep liquidity through aggregate pricing and fast executions.
In an email response, Carmi also clarified that the new services will be available to all jurisdictions "unless there are country-specific regulatory restrictions."
BitGo was also testing brokerage services for "several months" and is launching with "active clients and volume."
“The launch of BitGo Prime with its best business and loan services is a critical milestone in the company's journey as a leading broker and leader in digital asset financial services. Nick and his talented team did an extraordinary job helping us build a better financial model for our institutional clients, ”Mike Belshe, CEO, BitGo.