BitGo has established a global markets division, led by former NYDIG executive Pete Janney

According to The Block, digital asset infrastructure company BitGo Holdings (BTGO) announced the launch of BitGo Global Markets, its new institutional trading and financial solutions business, integrating global liquidity, trade execution, financing, derivatives, and settlement services. This division is led by former NYDIG executive Pete Janney, and BitGo completed its acquisition of NYDIG's institutional and trading business on August 27.

Approximately 30 employees joined BitGo after the acquisition, bringing expertise in derivatives, financing, collateral services, and structured products. Janney initially joined the company as the head of financial infrastructure. Since 2020, BitGo has provided institutional trading services through BitGo Prime, which has now been integrated into Global Markets, merging with derivatives, collateral management, and structured financing capabilities from NYDIG.

Under the new division, BitGo's Global Liquidity Layer will offer spot trading and large over-the-counter trading channels, with liquidity sourced from exchanges, market makers, and other trading counterparts; clients can use their crypto assets as collateral to borrow funds for trading positions, with BitGo responsible for qualified custody, margin monitoring, and additional margin or clearing processing.

The division will also provide options, swaps, and customized structured products for qualified counterparties, as well as managed investment strategies, private funds, and research services, with clearing and settlement handled by Go Network. BitGo CEO Mike Belshe stated that Global Markets will combine custody, liquidity, trading, financing, and settlement capabilities with deeper capital markets expertise. BTGO rose 3.4% in pre-market trading on Wednesday, following a 3.7% increase the previous day.