Crypto Updates

BitGo Acquires Brassica, Expands Into Private Securities

BitGo Acquires Brassica, Expands Into Private Securities

Institutional crypto platform BitGo, recently valued at $1.75 billion, has announced the acquisition of private securities investment firm Brassica.

Perspective: Following the acquisition, BitGo plans to expand into the private securities space and focus on the digitization of the alternative asset industry.

“We currently have a dichotomy in financial services — one side deals with traditional securities and the other deals with up-and-coming, blockchain-based assets and cryptocurrencies,” said BitGo CEO Mike Belshe in an announcement shared with TheStreetCrypto. “With this acquisition, BitGo becomes the first major financial services firm to be able to provide comprehensive infrastructure support for both traditional private securities and blockchain-based assets.”

More details: BitGoraised $100 million in 2023 at a valuation of $1.75 billion, establishing it as one of the largest digital assets firms in the world. Since its launch in 2013, it has been focused on institutional crypto services, including custody.

With the acquisition ofBrassica, which became an independent company last year, BitGo will be able to incorporate leading alternative assets infrastructure into its offerings.

“Joining forces with BitGo is a significant step towards Brassica’s vision of building the financial…

Click Here to Read the Full Original Article at Cryptocurrencies Feed…