Crypto Custody Firm BitGo Adds OTC Trading as It Mulls IPO

Crypto custody firm BitGo Inc. has launched a global over-the-counter trading desk for digital assets amid its plan to go public.

The expansion comes as demand for cryptocurrencies from institutional investors such as hedge funds increases with prices rising. BitGo, one of the largest US-based custodians that help investors hold their digital assets, is considering an initial public offering, people familiar with the matter said earlier this month.

The OTC desk will provide institutional investors with spot and options trading services as well as lending to facilitate margin trading, Palo Alto, California-based BitGo said in a statement Tuesday. The firm ...