BitGo acquires NYDIG’s institutional trading business

U.S.-listed crypto custody firm BitGo (NYSE: BTGO) announced on Aug. 27 that it acquired Bitcoin financial services provider NYDIG’s institutional trading business and related assets. Through the acquisition, BitGo plans to expand trading services for institutional clients and strengthen its capabilities in derivatives, structured products, financing, and capital markets. As part of the deal, about 30 NYDIG employees and institutional clients were also transferred to BitGo. Specific terms of the transaction, including the purchase price, were not disclosed.