Key points

  • BitGo Holdings (NYSE:BTGO) launched Global Markets, a new institutional trading and financial services business led by former NYDIG executive Pete Janney.
  • The division combines spot trading, financing, derivatives, collateral management, asset management and institutional research.
  • The launch follows BitGo's acquisition of NYDIG's institutional trading business, adding approximately 30 employees and expanding its capital markets capabilities.

BitGo Holdings (NYSE:BTGO) launched Global Markets, an institutional trading division led by former NYDIG executive Pete Janney, according to an exclusive report by The Block.

The new business combines BitGo's existing institutional trading and Prime Services operations with expanded derivatives and collateral management capabilities.

“Global Markets brings these capabilities together with deeper capital markets expertise, allowing us to support more complex institutional strategies and serve a broader range of our clients’ financial needs,” BitGo CEO and co-founder Mike Belshe said in a statement.

The division targets institutional investors seeking spot execution, over-the-counter trading, financing and tools to manage cryptocurrency exposure.

Global Markets also offers options, swaps, structured products and collateral management for eligible institutional counterparties.

BitGo's Global Liquidity Layer connects clients with exchanges, market makers and over-the-counter trading partners.

The expansion follows BitGo's acquisition of NYDIG's institutional trading business, which brought approximately 30 employees into the company.

Following the announcement, BitGo shares were up 1.88% at $5.42.

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