BitGo Launches Global OTC Trading Desk to Meet Growing Institutional Demand

BitGo, a prominent crypto custody firm, has officially launched its global over-the-counter (OTC) crypto trading desk, catering specifically to institutional investors. The desk will offer a range of products including spot trading, options, lending, yield generation, and custody services, with access to over 250 digital assets.

BitGo’s announcement of the launch follows months of operation in stealth mode since early 2024, during which the platform recorded billions in trading volume and surpassed $150 million in its lending book. This launch is seen as a response to growing institutional demand for secure and efficient trading options in the cryptocurrency space.

With this new offering, BitGo aims to provide a tailored environment for institutional clients to trade various crypto assets. The OTC desk will be accessible in all major time zones globally, ensuring that clients can engage with the market at any time. This launch is significant as it underscores the increasing institutional interest in the crypto space and the need for platforms that offer comprehensive services beyond just custody.

Matt Ballensweig, managing director and head of trading at BitGo, who previously worked at Genesis and Bridgewater, along with Stefan Von Haenisch, formerly at OSL Group, are leading the desk. Ballensweig emphasized the firm’s confidence in delivering a service that addresses the unique needs of institutional traders, noting the team’s extensive experience in navigating market cycles and the firm’s ability to offer products that other brokers can’t.

In addition to expanding its OTC offerings, BitGo has also been rumored to be preparing for an initial public offering (IPO), signaling its ambition to solidify its position as a leader in the crypto space. Founded in 2013, BitGo has expanded its digital asset custody services to over 2,000 institutional clients in 90 countries. In December 2024, the company introduced a retail-focused platform to further broaden its reach.

The launch of BitGo’s global OTC trading desk highlights the growing institutional adoption of cryptocurrencies and underscores the company’s commitment to providing comprehensive and secure trading solutions. As more institutional players enter the market, the demand for services like BitGo’s, which offer both liquidity and security, is expected to continue to rise.