Crypto Custodian BitGo Plans IPO In 2025: Report

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Key Points:

Crypto custodian BitGo is reportedly planning an IPO as early as the second half of the year.
The company recently expanded into the Asia-Pacific region through its Singapore subsidiary.

According to Bloomberg, the crypto custodian BitGo is exploring the possibility of an initial public offering (IPO).

Crypto Custodian BitGo Considering 2025 IPO With $1.5 Billion Valuation

The Palo Alto, California-based crypto custodian is reportedly in discussions with advisers about a potential listing, which could take place as early as the second half of this year. BitGo has yet to confirm the plans publicly.

Founded in 2013, crypto custodian BitGo is one of the leading digital asset custody providers in the United States, offering services such as trading, lending, and borrowing for institutional clients. The company serves more than 1,500 institutional customers across 50 countries and processes approximately 8% of all Bitcoin transactions globally by value.

BitGo raised $100 million in funding last year, valuing the company at $1.75 billion. Past investors have included major financial firms such as Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners.

Rising Institutional Interest Fuels Crypto Industry IPO Trend

The move aligns with a broader trend of cryptocurrency firms preparing for public listings as regulatory conditions appear more favourable. If BitGo proceeds with an IPO, it will join several other crypto firms eyeing public listings.

Gemini, founded by billionaire twins Cameron and Tyler Winklevoss, and Bullish Global, a crypto exchange backed by investor Peter Thiel, are also reportedly considering IPOs soon. Circle Internet Financial and crypto exchange Kraken have similarly expressed long-term ambitions to go public.

BitGo’s expansion efforts have also extended internationally. In November, its subsidiary, BitGo Singapore, officially launched operations to provide digital asset services across the Asia-Pacific region.

The IPO is a bridge between the traditional financial sector and the dynamic world of cryptocurrencies. If successful, the IPO will provide BitGo with access to significant capital to further expand and develop its platform.

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