BitGo – the US-based custodial services provider – has reportedly announced its acquisition of Harbor – an online platform specialised in securities digitalization.
“Our vision has always been bigger than wallets and custody. Acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services.” Mike Belshe, head of BitGo, shared his remarks regarding the development.
This new acquisition will also grant BitGo the authoritative power over subsidiary arms of the platforms, including brokerages and transfer entities.
BitGo is responsible for finalizing over 20% of Bitcoin-related transactions throughout the globe. BitGo has also taken over the crypto staking infrastructure company Hedge.
The newest development has been posted onto the firm’s official website.
BitGo has been an associate providing assistance for Harbor, via their formerly established collaboration, from the start, as disclosed by Harbor CEO Josh Stein.
Harbor, officially offering services since 2017, Harbor was the first blockchain-related firm to have been successful in obtaining FINRA broker-dealer registration, together with SEC licensing, to function as an asset transfer establishment.