Crypto custodian firm BitGo to buy NYDIG's institutional trading business, source says

Crypto custodian firm BitGo to buy NYDIG's institutional trading business, source says Aug 27 : BitGo has agreed to buy NYDIG's institutional trading business, a source familiar with the matter said, as the crypto custodian pushes to strengthen its foothold in trading infrastructure. Here are some details: • With the acquisition, about 30 NYDIG employees are expected to join BitGo, alongside 250 institutional client relationships. • The deal will add derivatives, structured products, financing and other capital markets services to BitGo's existing custody, settlement and wallet infrastructure units. • Cryptocurrencies have started to gain mainstream prominence, benefiting from the Trump administration's friendly stance on the asset class. • BitGo went public earlier this year, raising about $213 million in its initial public offering. Founded in 2013, it is one of the largest crypto custody firms in the United States. • Through its institutional trading unit, NYDIG focuses on financing and derivatives, catering to institutional investors and family offices.