Cryptocurrency custody company BitGo has added over-the-counter trading services and is considering an IPO

ChainCatcher news, according to Bloomberg, cryptocurrency custody company BitGo Inc. has launched a global over-the-counter (OTC) trading business while planning to go public. This expansion comes as institutional investors, such as hedge funds, are increasing their demand for cryptocurrencies.

As one of the largest digital asset custody companies in the United States, BitGo primarily helps investors store their digital assets. According to insiders, the company is considering an initial public offering (IPO) earlier this month.

In a statement on Tuesday, BitGo announced that its OTC trading division will provide spot trading, options trading, and lending services for institutional investors to facilitate margin trading. Since the beginning of last year, the company has started offering services to select clients, with trading volumes reaching billions of dollars and lending exceeding $100 million. Additionally, the trading platform is not only available in the U.S. but also covers other jurisdictions, including Hong Kong and the Middle East.