BitGo made a declaration on 18th February 2020 that it will bag the Harbor. BitGo is one of the leading names in digital assets and financial services, whereas Harbor is one of the leading digital securities platforms and is the broker-dealer and transfer agent to BitGo.
This purchase extends BitGo’s capabilities to tackle a broader category of digital assets for an organization that trades securities in large enough share quantities or dollar amounts and provides them with a foundation for a full-stack digital assets solution.
The CEO of BitGo Mike Belshe said,
Our vision has always been bigger than wallets and custody, and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services. We believe participants will ultimately need to be trusted, full-stack solutions for digital currencies and now BitGo is well-positioned to address institutional requirements as the market develops.
Institutional clients have been provided security, custody, and liquidity solutions for digital assets by BitGo. BitGo’s acquisition of Hedge follows the purchase of Harbor. Hedge is the organization responsible for the foundation of BitGo Staking. It is the leader in the scalable, programmatic deployment of staking infrastructure.
The CEO of Harbor, Josh Stein stated,
BitGo has been an important partner since Harbor inception. We’ve worked closely together to integrate BitGo Business Wallets and BitGo Custody into Harbor’s services. Harbor provides BitGo with a complementary technology stack for the lifecycle of digital securities, as well as important service capabilities through our digital assets broker-dealer and transfer agent subsidiaries.
The Fifth Wall, Co-Founder and Managing Partner, Brad Greiwe, says that BitGo and Harbor have worked together on their shared idea to build a digital asset infrastructure that the traditional asset investors need. He believes that the digital assets and markets need trusted solutions and services, which can eventually make this purchase fit perfectly as per plan and bring fruitful results for both the organizations in the longer run.