BitGo announces its partnership and investment from Brink’s Global Services, a global leader in secure logistics and asset protection.
This investment comes after BitGo’s most recent $100M Series C financing “from new, outside strategic investors with a valuation of $1.75B.”
Baylor Myers, Vice President of Corporate Development at BitGo, said:
“Brinks is one of America’s most historic brands. Their commitment to best-in-class security is universally known. BitGo is proud to join with them as we advance financial innovation both here in the USA and around the globe. BitGo and Brinks are a natural fit, joining their tradition of security to the exciting digital future ahead.”
Since 2013, BitGo has grown from a pioneer “to the leading digital asset security, custody, and wallet infrastructure provider.”
Serving over 1,500 clients in 50+ countries, BitGo is “the go-to secure wallet solution for industry leaders across the board, from Fortune 100 giants like Nike to innovative blockchains like Mysten and established Bitcoin businesses like Swan. 2023 saw a flight to safety for the industry and BitGo experienced a 60% growth in new clients, a 20% increase in assets under custody, and a 40x increase in staked assets.”
This growth is a testament to “both BitGo’s best-in-class offerings and the broader market’s adoption of digital assets.”
Zac McKenna, Brink’s Manager of Digital Assets, said:
“We are excited to not only partner with, but invest in BitGo as we become their global secure logistics and vaulting provider. BitGo’s strong brand reputation, market position and long track record of success in the digital asset industry enhances our presence in the fast-growing and evolving blockchain landscape. In an increasingly digital world, it was a logical next step for Brink’s, the global leader in physical security and logistics, to partner with BitGo, the leader in digital asset security and custody.”
As noted in the update, BitGo claims it “provides the most secure and scalable wallet solutions for the digital asset economy, offering regulated custody, staking and trading, and core wallet infrastructure.”
Founded in 2013, BitGo is behind “the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets, and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade DeFi, NFT, and web3 services.”
In 2023, BitGo launched Go Network, which provides a new market structure for institutions to settle efficiently.
BitGo secures approximately 20% of all on-chain Bitcoin transactions “by value and supports more than 700 digital assets within its platform.”
BitGo provides the security and operational backbone “for more than 1,500 institutional clients in 50 countries, including many regulated entities and the world’s top cryptocurrency exchanges and platforms.”
