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BitGo is an institutional-grade digital asset custody and wallet infrastructure provider, offering self-custody hot and cold wallets with multi-party computation (MPC) technology. It enables wallet creation, transaction signing, policy management, and API integration.
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About BitGo
BitGo is an institutional-grade digital asset custody and infrastructure provider. Its core business includes qualified custody, wallet infrastructure, prime brokerage (trading, lending, settlement), and stablecoin issuance support. The company addresses market pain points such as counterparty risk, asset security, and regulatory compliance by offering cold storage in bank-grade vaults, multi-signature authorization, and a unified platform that connects custody with trading and settlement. Its key narrative revolves around being a trusted, regulated backbone for institutional crypto adoption.
In the past six months (2026-02-28 to 2026-08-28), BitGo reported Q2 2026 revenue of $4.33 billion, up 79.6% year-over-year, driven by digital asset sales and stablecoin-as-a-service growth. However, the company posted a net loss of $19 million, swinging from a year-ago profit, due to unrealized losses on its bitcoin treasury and compressed trading margins. Normalized platform assets rose 31.4% to $65.2 billion, and customer count grew 26.2% to 5,833. The company also approved a $50 million share repurchase program and announced cost-cutting measures expected to save $15 million annually. A securities class action lawsuit was filed alleging inadequate disclosure of bitcoin treasury risks, and the CFO announced departure effective September 15. These developments highlight a period of growth tempered by profitability challenges and legal scrutiny.
BitGo, founded in 2013, has evolved from a multi-signature wallet pioneer into a regulated digital asset infrastructure provider. Key milestones include becoming the first overseas crypto firm to obtain a VASP license in South Korea, a breakthrough in regulatory compliance. The company launched BitGo Link, connecting institutional clients to major exchanges like Coinbase and Kraken, and introduced quantum-secure tools for Bitcoin institutional wallets, addressing future security threats. In 2021, a proposed $1.2 billion merger with Galaxy Digital collapsed due to SEC rulings, leading to a $100 million termination fee dispute and court proceedings. More recently, BitGo shifted strategic focus toward AI and stablecoins, cutting about 15% of its workforce, while reporting strong revenue growth of 112.6% year-on-year in Q1, despite asset depreciation drags. These events highlight BitGo's resilience and adaptability in navigating regulatory, technological, and market challenges.
Over the past six months, BitGo delivered several major milestones. In Q2 2026 results, platform clients, assets under custody, and staked assets grew 26%, 31%, and 36% YoY respectively, with ~$15M annualized cash savings and a $50M buyback authorized. Product launches include BitGo Link, a centralized layer connecting exchange accounts to BitGo for cross-venue capital movement and automated reconciliation; BitGo Prime's Global Liquidity Layer integrating trading, financing, collateral management, and settlement. BitGo also announced institutional custody and off-exchange settlement for USDM1, the world's first natively issued onchain sovereign bond backed 1:1 by US Treasuries, on Stellar, Ethereum, and Solana. Additionally, it launched quantum-risk management for Bitcoin wallets, including UTXO selection, risk scoring, and address remediation.
Future focus: strengthen regulated institutional infrastructure to capture growth in digital assets, stablecoins, and tokenized markets; expand Link to more exchanges and treasury workflows; advance quantum-safe wallet operations; maintain cost and capital discipline to drive earnings growth.
Co-founders:
Mike Belshe: Co-founder & CEO. Former top-10 engineer at Google Chrome; created the world's first Bitcoin multi-signature wallet. (, )
Ben Davenport: Co-founder, former CTO (2014-2018), now Advisor. Co-founded Beluga (acquired by Facebook, became the basis for Messenger); founding team of Facebook Messenger; led Instagram Ads. ()
Current core executives:
Jody Mettler: COO & President of BitGo Bank & Trust. ()
Chen Fang: Chief Revenue Officer; previously COO and CPO. ()
Angela Ang: Managing Director APAC & President of BitGo Singapore; former MAS executive. (, )
Steven Scott: Director of Institutional Sales.
Jake Orvidas: Managing Director.
BitGo's recent team changes: Angela Ang joined in May 2026 as Managing Director, APAC. Matthew Ballensweig departed in July 2026 as Head of Trading. Ed Reginelli left in August 2026 as CFO.