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§ Private Profile · Palo Alto, CA, USA
Digital asset infrastructure for institutional clients, offering custody, wallets, staking, and trading services. Regulated financial platform.
BitGo has raised $170.0M across 4 funding rounds.
Key people at BitGo.
BitGo was founded in 2013 by Ben Davenport (CTO / Co-founder).
BitGo has raised $170.0M in total across 4 funding rounds.
BitGo is a digital asset infrastructure company providing institutional cryptocurrency custody, multisignature wallets, staking, and prime trading services based in Palo Alto, California. The regulated financial services platform secures approximately 20% of all global on-chain Bitcoin transactions by value and manages $104 billion in assets across more than 9.3 million newly created wallets. Operating across 50 countries and supporting over 700 digital assets, the enterprise serves over 5,300 institutional clients and reached a $1.75 billion valuation following a $100 million Series C funding round in August 2023. BitGo is backed by prominent venture capital investors including Goldman Sachs, Craft Ventures, and Valor Equity Partners, and has expanded its institutional capabilities through the strategic acquisitions of Harbor and Lumina. The digital asset trust and security company was founded in 2013 by Mike Belshe and Ben Davenport.
BitGo is a leading digital asset infrastructure company founded in 2013, providing institutional-grade custody, wallets, staking, trading, prime services, settlement, and stablecoin solutions to secure, manage, and utilize digital assets.[1][2][3] It serves investors, exchanges, fintechs, asset managers, and platforms across over 90 countries, solving key challenges in crypto security, regulatory compliance, and scalability for institutions transitioning to a digital asset economy.[3][4][5] With $104 billion in assets on platform, over 9.3 million wallets created, and recognition as the #1 custodian and staking provider, BitGo powers operations for top exchanges and ETFs while generating revenue through custody fees, wallet licensing, prime brokerage, and staking.[4][6][8] Its growth includes a $100 million Series C in 2023 at $1.75 billion valuation and S-1 filing for IPO in September 2025.[2]
BitGo was founded in 2013 in Palo Alto, California, by CEO Mike Belshe and Ben Davenport during the early days of cryptocurrency, pioneering multi-signature (multi-sig) wallet technology for secure institutional storage.[2][3] Belshe, with prior experience at Google leading the Chrome security team, and Davenport identified the need for trusted infrastructure amid rising Bitcoin adoption, launching the first commercial multi-sig wallets in 2015.[2][3] Key pivots included establishing BitGo Trust Company in 2018 as the first qualified U.S. digital asset custodian, expanding to BitGo Prime in 2020 for trading and lending, and becoming the sole custodian for Wrapped Bitcoin (WBTC).[3] A failed $1.2 billion acquisition by Galaxy Digital in 2021 highlighted its value, followed by global expansion and regulatory wins.[2]
BitGo rides the wave of crypto institutionalization, providing the secure "rails" for tokenized assets, stablecoins, atomic settlement, and on-chain finance amid 2025's regulatory clarity and ETF approvals.[6] Its timing aligns with market forces like 24/7 global markets, real-time auditability, and predictable digital asset supplies, enabling traditional finance's shift from legacy intermediaries.[4][6] By powering ETF custody, exchange wallets, and stablecoin issuance (e.g., USD1 for World Liberty Financial), BitGo influences the ecosystem as the operational backbone, fostering velocity in trading/settlement while minimizing risks like hacks or insolvency.[3][6][8]
BitGo's post-IPO trajectory points to accelerated global expansion, leveraging its 2025 regulatory fortress and Stablecoin-as-a-Service to dominate institutional settlement and tokenized RWAs.[2][6] Trends like "Stablecoin Standard" velocity, multi-chain interoperability, and compliant DeFi yield will propel growth, though it must navigate competition from crypto natives and banks plus market volatility.[2][6] As the trusted infrastructure pioneer, BitGo will evolve from custody leader to full-stack digital asset prime, solidifying its role in the financial system's blockchain pivot—delivering the secure foundation institutions demand.[1][5]
BitGo was founded in 2013 by Ben Davenport (CTO / Co-founder).
BitGo has raised $170.0M in total across 4 funding rounds.
BitGo's investors include Balderton Capital, Builders VC, Galaxy Digital, Madrona Ventures, Pioneer Square Labs, Work-Bench, Shivon Zilis, Antonio Gracias, AAF Management Ltd., Benchmark, Brainchild, Craft Ventures.
BitGo has raised $170.0M across 4 funding rounds. Most recently, it raised $100.0M Series C in August 2023.
Key people at BitGo.
