The crypto custodian agency BitGo has acquired
HeightZero, a software program platform tailor-made for wealth managers seeking to
combine cryptocurrencies and digital property into their purchasers’ portfolios.
Whereas the monetary particulars of the deal had been undisclosed, this improvement
highlights BitGo’s ambition to develop its presence within the cryptocurrency area.
Mike Belshe, the CEO of BitGo, stated: “We have
been proud to have partnered with HeightZero over the previous a number of years and to
be part of their unbelievable progress. This acquisition is a doubling down in
the area for BitGo, HeightZero, and our purchasers. We sit up for
sustaining HeightZero’s management place, whereas growing the protection,
safety, and options offered within the joint merchandise.”
HeightZero makes a speciality of offering wealth managers
with a set of software program instruments designed to facilitate the inclusion of
cryptocurrencies in its purchasers’ portfolios. This consists of providers resembling
portfolio rebalancing, assertion technology, tax loss harvesting, and automatic
billing for cryptocurrency investments. Notably, HeightZero had already been
utilizing BitGo’s custody options for a while earlier than formally becoming a member of BitGo.
At this time we’re asserting BitGo’s acquisition of HeightZero.
Collectively we’ll present RIAs and their purchasers with all the things they should handle digital property from one platform.
Assist us welcome them to BitGo! ?https://t.co/ZCU8k8tB1J pic.twitter.com/f1UmpkMHSU
— BitGo (@BitGo) October 17, 2023
The acquisition of HeightZero signifies BitGo’s
dedication to offering a complete suite of options for wealth managers
seeking to navigate the cryptocurrency panorama. The corporate goals to empower
wealth managers to embrace cryptocurrencies and seize the alternatives they
provide.
BitGo’s Strategic Enlargement
Just lately, BitGo secured USD $100 million in funding.
This funding boosted its valuation to $1.75 billion. In addition to that, BitGo
partnered with KEB Hana Financial institution, one of many largest monetary establishments in
South Korea, in September. The first goal of this collaboration was to
collectively set up digital asset custody providers throughout the nation.
In June, BitGo deserted its beforehand deliberate acquisition of Prime Belief, a rival agency, regardless of each events having reached a
preliminary settlement. BitGo took to Twitter to announce their change of plans,
stating: “This choice was not made flippantly, and BitGo stays dedicated
to our mission to ship belief in digital property.”
Subsequently, Prime Belief filed for Chapter 11 chapter safety in August. This transfer marked the newest chapter within the
troubled journey of the monetary know-how firm, which has encountered
a number of challenges over the previous 12 months, starting from regulatory troubles to the
collapse of an acquisition deal.
The crypto custodian agency BitGo has acquired
HeightZero, a software program platform tailor-made for wealth managers seeking to
combine cryptocurrencies and digital property into their purchasers’ portfolios.
Whereas the monetary particulars of the deal had been undisclosed, this improvement
highlights BitGo’s ambition to develop its presence within the cryptocurrency area.
Mike Belshe, the CEO of BitGo, stated: “We have
been proud to have partnered with HeightZero over the previous a number of years and to
be part of their unbelievable progress. This acquisition is a doubling down in
the area for BitGo, HeightZero, and our purchasers. We sit up for
sustaining HeightZero’s management place, whereas growing the protection,
safety, and options offered within the joint merchandise.”
HeightZero makes a speciality of offering wealth managers
with a set of software program instruments designed to facilitate the inclusion of
cryptocurrencies in its purchasers’ portfolios. This consists of providers resembling
portfolio rebalancing, assertion technology, tax loss harvesting, and automatic
billing for cryptocurrency investments. Notably, HeightZero had already been
utilizing BitGo’s custody options for a while earlier than formally becoming a member of BitGo.
At this time we’re asserting BitGo’s acquisition of HeightZero.
Collectively we’ll present RIAs and their purchasers with all the things they should handle digital property from one platform.
Assist us welcome them to BitGo! ?https://t.co/ZCU8k8tB1J pic.twitter.com/f1UmpkMHSU
— BitGo (@BitGo) October 17, 2023
The acquisition of HeightZero signifies BitGo’s
dedication to offering a complete suite of options for wealth managers
seeking to navigate the cryptocurrency panorama. The corporate goals to empower
wealth managers to embrace cryptocurrencies and seize the alternatives they
provide.
BitGo’s Strategic Enlargement
Just lately, BitGo secured USD $100 million in funding.
This funding boosted its valuation to $1.75 billion. In addition to that, BitGo
partnered with KEB Hana Financial institution, one of many largest monetary establishments in
South Korea, in September. The first goal of this collaboration was to
collectively set up digital asset custody providers throughout the nation.
In June, BitGo deserted its beforehand deliberate acquisition of Prime Belief, a rival agency, regardless of each events having reached a
preliminary settlement. BitGo took to Twitter to announce their change of plans,
stating: “This choice was not made flippantly, and BitGo stays dedicated
to our mission to ship belief in digital property.”
Subsequently, Prime Belief filed for Chapter 11 chapter safety in August. This transfer marked the newest chapter within the
troubled journey of the monetary know-how firm, which has encountered
a number of challenges over the previous 12 months, starting from regulatory troubles to the
collapse of an acquisition deal.
