BitGo Agreement Restricts How It Can Use Clients’ Crypto Assets

BitGo’s custody agreement says clients retain beneficial ownership of assets held for them and limits how the company can use those assets, while allowing several wallet structures and specific exceptions.

The terms bar BitGo from lending, pledging, rehypothecating or otherwise encumbering client assets unless clients authorize the activity, the assets are used to recover amounts owed under the agreement, or applicable law requires it.

The agreement permits assets to be held in segregated on-chain wallets or omnibus off-chain wallets. The latter can combine assets belonging to multiple clients for operational and settlement purposes.

The agreement, last modified Oct. 1, 2026, also limits the scope of custody insurance: It applies only to custodial services in which BitGo holds all keys. The terms do not specify a coverage amount.

Eligible U.S. customers receive custody services through BitGo Bank & Trust, National Association, which is chartered by the Office of the Comptroller of the Currency, and BitGo New York Trust Company LLC, a limited-purpose trust company.

The contract describes custody transactions as based on client instructions, subject to the stated exceptions. It does not provide a date for any change to the agreement or custody services.