Monday March 08, 2021
Bitcoin (BTC) $50,978.00   Ether (ETH) $1,740.01
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Capital Raising

Bitcoin and blockchain security firm BitGo ​raises​ ​$42.5 million in Series B​

Published by CryptoNinjas.net
12/11/2017

Palo Alto-based BitGo, the digital asset service and security provider today announced the close of its $42.5 million Series B financing, led by Valor Equity Partners with participation from David Sacks, Bill Lee, and DRW. The funding will be used to accelerate the momentum of its technology among institutional investors. The company, which already powers $8 billion in digital transactions per month, has become an indispensable financial services partner to institutions worldwide.

A growing customer base, including CME Group and The Royal Mint, leverage BitGo’s technology to add digital currencies to their global product mix.

Individuals and funds participating in BitGo’s Series B have invested in every stage of companies that fundamentally changed industries, including Airbnb, Facebook, SpaceX, and Tesla. Antonio Gracias, Founder, Managing Partner, and Chief Investment Officer of Valor Equity Partners and board member at Tesla and SpaceX will join BitGo’s board of directors. David Sacks, Founder/CEO of Yammer and original COO and product leader of PayPal, also joins the board.

“We’ve crossed the tipping point for Bitcoin and other digital currencies, which have transitioned from experiments to front page news. BitGo gives institutions and custodians a solid technology base to offer new digital investment opportunities, products, and services. We have been the go-to service for exchanges, hedge funds, trusts, and businesses for years, now we are expanding our secure and compliant technology to build out an advanced financial ecosystem for investors to work with to make buying, storing, and trading digital assets as easy as possible.”

Mike Belshe, CEO of BitGo

“BitGo is changing the way that digital currency is secured. Institutions can now confidently trust in the security of their digital assets thanks to BitGo, as can their custodial partners,” said Antonio Gracias, Founder and Chief Investment at Valor Equity Partners. “We’re thrilled to be a part of a company that is changing the way that financial
services organizations view digital currency.”

“BitGo has a long history of working with large institutions that need the highest-grade security, compliance, cold storage, multi-key management, and more,” said Bill Lee, Chairman of the Board at BitGo. “We are thrilled to bring on top-notch executives and the expertise of investment legends like Don Wilson at DRW to aggressively expand on BitGo’s leading position with institutional investors.”

BitGo’s technology is a catalyst that allows custodial institutions to extend new offerings to Wall Street and Main Street, and the company has already realized success with several custodial partners. One example is Kingdom Trust, a custodian who services US clients and holds custody of over $12 billion in assets. As a federally approved custodian according to IRS Code Title 26 Sec. 408, Kingdom Trust can offer Bitcoin IRA and allow retirement investors to build positions in cryptocurrencies just as they do in alternative assets like real estate or precious
metals.

“Being custodian for the assets of clients of registered investment advisors, broker-dealers and investment sponsors comes with great responsibility in an ever-changing regulatory environment,” said Matt Jennings, CEO at Kingdom Trust. “BitGo allows us to bring digital currency – a go-to investment for many investors – alongside stocks, bonds and mutual funds in our retirement offerings with the same security and trust that we expect from institutional-grade partners.”

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Bitcoin derivatives exchange LedgerX selects BitGo to provide multi-sig wallet services
Crypto Exchanges

Bitcoin derivatives exchange LedgerX selects BitGo for multi-sig wallet and custody services

03/18/2020
Bitcoin banking app Mode selects BitGo as custody provider
Wallets

Bitcoin banking app Mode selects BitGo as custody provider

02/19/2020
Harbor acquired by BitGo to include securities capability
M&A

Harbor acquired by BitGo to include securities capability

02/18/2020
BitGo expands regulated crypto asset custody to Switzerland and Germany
Featured

BitGo expands regulated crypto asset custody to Switzerland and Germany

02/10/2020
Crypto exchange Bitstamp will deploy custody solution from BitGo
Crypto Exchanges

Crypto exchange Bitstamp will deploy custody solution from BitGo

10/09/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version