BitGo, a Palo Alto, CA-based provider of digital asset financial services, is acquiring Harbor, a digital securities platform, and its broker-dealer and transfer agent subsidiaries.
The amount of the deal was not disclosed.
The acquisition extends BitGo’s capabilities to address a wider class of digital assets for institutional investors.
Led by Josh Stein, CEO, Harbor provides BitGo with a complementary technology stack for the lifecycle of digital securities, as well as important service capabilities through digital assets broker-dealer and transfer agent subsidiaries.
Formed in 2017, Harbor received investments from venture capital firms including Andreessen Horowitz, Craft Ventures, Fifth Wall, Valor Equity Partners and VY Capital. In November 2019, the company became a registered transfer agent with the Securities and Exchange Commission (SEC), becoming a FINRA-registered broker-dealer and a SEC-registered transfer agent for digital assets.
Led by Mike Belshe, CEO, BitGo provides institutional clients with security, custody, and liquidity solutions. BitGo processes over 20% of all global bitcoin transactions, and supports over 200 coins and tokens. Its customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, a qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
The acquisition of Harbor follows the acquisition of Hedge, a leader in the scalable, programmatic deployment of staking infrastructure, which formed the foundation of BitGo Staking.