BitGo Launches New Prime Brokerage Services For Institutional Traders
BitGo Launches New Prime Brokerage Services For Institutional Traders
May 28, 2020
BitGo Launches New Prime Brokerage Services For Institutional Traders
BitGo Launches New Prime Brokerage Services For Institutional Traders
May 28, 2020

BitGo is introducing BitGo Prime, a new entity specifically for institutional trading services.

On May 27, BitGo announced that the new prime broker platform will incorporate multiple services targeting institutional investors.

The new full-service platform integrates institutional crypto lending, trading and custody services.

Nick Carmi, head of financial services at BitGo and the newly appointed CEO of BitGo Prime, says that institutional-grade trading services have been available on BitGo in private beta for several months:

“BitGo has always been focused on servicing institutional investors. What’s different here is that we’ve launched a prime broker business to deeply integrate the services of lending, trading and custody.”

BitGo says that the new platform allows trading from insured cold storage that is offered exclusively to BitGo Prime clients, whose assets are held with regulated custodian BitGo Trust.

ALSO READ :  Cypherium To Develop Blockchain Infrastructure In China

At the initial launch, BitGo Prime will feature trading for the top-two cryptocurrencies — Bitcoin and Ether and the United States dollar.

Carmi adds:

“We will be adding support for the top 12 most active coins very shortly.”

BitGo promises to ensure anonymity for traders. BitGo Prime clients remain “completely anonymous” while trading, with the platform itself being their sole counterparty. 

Carmi explained that traders on BitGo Prime remain undisclosed to market makers.

Meanwhile, the platform ensures compliance with Know Your Customer and Anti-Money Laundering measures:

“The client is not anonymous to BitGo — they’ve been fully vetted under KYC/AML procedures. They remain undisclosed to the market and market makers. This is important so as not to tip off who may be making large trades and is standard practice with prime brokers in more traditional asset classes.”

Source: Cointelegraph | Image: Pexels


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.