BitGo Launches Digital Asset Platform for Banks

Crypto custody company BitGo launched a modular digital asset infrastructure platform for banks combining custody, trading, settlement, staking and stablecoin services for financial institutions exploring crypto products and onchain payments.

The company said banks can integrate services individually while maintaining control over compliance, governance and client-facing operations. BitGo said the platform is already being used by institutions including Erebor Bank, Banco de Crédito del Perú, TowerBank and InvestiFi.

BitGo said the system also includes “crypto-as-a-service” tools that allow banks to offer custody, wallet and trading services under their own branding. The company said institutions can adopt products in stages based on operational and regulatory requirements.

“The rapid growth in the value of cryptocurrencies and digital assets has led to growing banking needs for the crypto industry and growing interest in new potential business opportunities from the banking industry,” the US Congressional Research Service said in a February 2025 issue analysis.

Founded in 2013, BitGo is a California-based digital asset infrastructure company that provides crypto custody, trading, staking and settlement services for banks, exchanges and institutional investors.

Last week, the company reported $3.8 billion in first-quarter revenue, up from $1.8 billion a year earlier, as higher crypto trading activity and growth in its stablecoin business boosted results. Despite the revenue increase, the company posted a net loss of $60.7 million for the quarter, partly due to a non-cash loss tied to the value of its Bitcoin treasury holdings.

Related: OKX accelerates US push with BitGo off-exchange settlement

Crypto companies expand banking and institutional infrastructure services

Crypto companies continue to build infrastructure products aimed at banks and financial institutions exploring stablecoins, tokenized assets and digital asset custody.

Ripple expanded its prime brokerage business after completing its roughly $1.25 billion acquisition of Hidden Road last year. The deal gave Ripple a platform serving hedge funds and trading firms across digital assets and traditional markets.

In April, Fireblocks introduced a platform allowing institutions to deploy stablecoin balances into onchain lending markets through Aave and Morpho-powered products.

Earlier this month, Anchorage Digital partnered with Mexico’s Grupo Salinas to provide stablecoin-based settlement and dollar payment infrastructure for banking operations in Latin America. The companies said the system would use GENIUS Act-compliant stablecoins for treasury management and cross-border transfers.

Some crypto exchanges are also pursuing regulated banking and custody frameworks. Kraken parent company Payward recently applied for a national trust company charter with the US Office of the Comptroller of the Currency to expand digital asset custody services.

In March, Kraken Financial gained access to the Federal Reserve’s Fedwire payment network through a Federal Reserve master account, allowing the company to settle payments directly on US banking rails instead of relying on correspondent banks.

Source: Custodia Bank