Most cryptocurrency enthusiasts are familiar with BitGo. The crypto custody specialist is currently looking to diversify its presence. 

BitGo Wants to Expand its Reach

When it comes to enterprise-grade crypto custody solutions, BitGo is a name that pops up regularly. The company has always been ahead of its competitors.

Especially when it comes to multisignature support the company was quick to embrace this solution.

Following a recent announcement, it appears that BitGo wants to diversify. Their existing products and services will remain accessible. However, its management team has decided to acquire digital securities platform Harbor. 

Not too many details regarding the acquisition are known. Financial terms associated with this process remain unknown.

By acquiring the firm, BitGo's portfolio of services grows significantly. Not only will they acquire the digital securities platform run by Harbor.

The acquisition also gives them control over the broker-dealer subsidiary, as well as the transfer agent subsidiary.

How all of these facts will be handled, remains to be determined.

BitGo CEO Mike Belshe adds:

 “Our vision has always been bigger than wallets and custody and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services. We believe participants will ultimately need trusted, full-stack solutions for digital currencies and now BitGo is well positioned to address institutional requirements as the market develops.”