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      BitGo Shifts Focus to Prime Brokerage as Key Revenue Source

      BitGo, a digital asset infrastructure firm listed on the New York Stock Exchange under the ticker BTGO, is pivoting its business strategy to prioritize prime brokerage services. CEO Mike Belshe announced on October 6, 2026, in Singapore that the company aims for prime brokerage to account for 100% of its revenue, moving beyond its traditional role of crypto custody.

      The new strategy allows institutional investors to earn returns on their assets while they remain securely held in custody. Clients will have the ability to trade, borrow, and settle transactions without needing to withdraw their holdings. This integrated approach is designed to create a 'virtuous cycle' where custody supports trading and lending activities, facilitating easier access to capital without the need to sell assets.

      To implement this strategy, BitGo has developed two key products: BitGo Prime for brokerage services and the Go Network for integrated trading, financing, and settlement. The Go Network operates continuously, ensuring that asset transfers and payments occur simultaneously, eliminating the risk of holding IOUs. In August 2026, BitGo strengthened its capabilities by acquiring NYDIG's institutional trading unit, enhancing its derivatives execution and financing services.

      Since going public in January 2026, BitGo has reported significant growth, including surpassing $2 billion in cumulative cleared volume with Crossover Markets by September. The firm has also expanded its off-exchange settlement arrangements with OKX to include international clients, further solidifying its position in the digital asset market. As BitGo transitions to a model heavily reliant on prime brokerage, it will need to navigate the associated risks of financing and credit exposure while aiming for substantial growth.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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