BitGo is a technology company.
BitGo has raised $70.0M across 3 funding rounds.
Key people at BitGo.
BitGo was founded in 2013 by Ben Davenport (Chief Product Officer / Co-founder).
BitGo has raised $70.0M in total across 3 funding rounds.
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]
Key people at BitGo.
BitGo was founded in 2013 by Ben Davenport (Chief Product Officer / Co-founder).
BitGo has raised $70.0M in total across 3 funding rounds.
BitGo's investors include Balderton Capital, Builders VC, Galaxy Digital, Madrona Ventures, Pioneer Square Labs, Work-Bench, Shivon Zilis, AAF Management Ltd., Benchmark, Brainchild, Craft Ventures, Decibel Partners.
BitGo has raised $70.0M across 3 funding rounds. Most recently, it raised $15.0M Series B in October 2018.
