BitGo Holdings Acquires NYDIG's Institutional Trading Business

By Elias SchisgallBitGo Holdings has acquired NYDIG's institutional trading business and related assets.The digital asset infrastructure company said the deal would expand its own institutional markets platform and strengthen its sophisticated client base, as well as improving its financing capabilities and derivatives.The deal also allows NYDIG to focus resources on its data-center development business, BitGo said.About 30 NYDIG employees joined BitGo as part of the deal, the company said.Financial terms of the acquisition weren't disclosed."We believe this transaction will meaningfully scale our trading and infrastructure capabilities and adds an exceptional team with experience serving institutional clients," BitGo Chief Executive Mike Belshe said. "It is also expected to enable us to serve a broader base of sophisticated clients that we believe will benefit from BitGo's comprehensive infrastructure offerings."Write to Elias Schisgall at [email protected]