Add as a preferred source on GoogleBitGo Launches Global Markets Unit for Institutional Trading
The division will combine spot and block trades, financing, derivatives and settlement, with Pete Janney, a former NYDIG executive, leading it.
BitGo has brought its institutional trading, financing and settlement services together in a new unit, BitGo Global Markets, led by former NYDIG executive Pete Janney.
The unit’s Global Liquidity Layer will arrange spot and block over-the-counter trades, drawing liquidity from exchanges, market makers and other counterparties. Clients will be able to borrow against crypto collateral to fund trading positions, while BitGo holds the collateral in qualified custody and monitors margin, including calls and liquidations.
Eligible counterparties will be offered options, swaps and customized structured products. The unit will also offer managed investment strategies, private funds and research services. BitGo’s Go Network will handle clearing and settlement, and BitGo Prime will become part of the new division.
The launch follows BitGo’s acquisition of NYDIG’s institutional trading business, which brought about 30 employees to BitGo and added derivatives and financing capabilities.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.