BitGo Eyes Global Expansion as NYSE Listing and Regulatory Clarity Fuel Institutional Adoption of Digital Assets

Global Banking & Finance Review in conversation with Brett Reeves, Head of Go Network and European Sales at BitGo

Why did you choose to list on the NYSE and did you consider other venues?

We evaluated multiple listing venues. Ultimately, the NYSE stood out for two reasons: first, its credibility and visibility with global institutional investors; and second, its long track record of supporting companies operating at the intersection of finance, technology, and regulated markets.

What is BitGo's core client base made up of and how does BitGo make revenue?

BitGo serves institutional participants across the digital asset ecosystem, including exchanges, institutions, developers, and builders, offering regulated custody, settlement, liquidity, and infrastructure services needed to operate safely. As of September 30, 2025, BitGo safeguards over 1,550 digital assets across a wide range of blockchains and serves more than 4,600 institutional clients in over 100 countries.

Our revenue is driven by providing core infrastructure services to institutional clients. Secure custody remains foundational to BitGo but we’ve built a diversified model across custody, trading, settlement, and related infrastructure services. Importantly, our business is tied to institutional activity and adoption, not speculative trading behavior.

Initially set up as a crypto custodian, but now a broader digital asset infrastructure business, what are your main product and service offerings?

Custody was the starting point at BitGo, not the end goal. Institutions need a full stack—secure custody, staking, settlement, liquidity, and regulated financial rails—and BitGo has built that on top of a security-first, regulated core. Today, the platform spans regulated custody, including BitGo Bank & Trust and institutional-grade wallets designed with security at the forefront, trading and prime services through BitGo Prime, complemented by an OTC trading desk, and settlement infrastructure via the Go Network, which enables near-instant settlement to support custody and trading workflows. Together, these capabilities are supported by a broader set of infrastructure services that allow institutions to operate safely, efficiently, and compliantly in digital assets.

What is BitGo seeing in terms of traditional finance and industry adopting the asset class?

We’re seeing the shift from pilots to real implementation. As digital assets move closer to the core global financial markets, institutions increasingly want the same fundamentals they expect everywhere else: secure custody, regulated infrastructure, reliable settlement, and access to liquidity - delivered with public-market standards for governance, compliance, and transparency.

Regulatory clarity is a meaningful accelerant here. In Europe, Markets in Crypto-Assets Regulation (MiCA) has established a harmonized framework across the EU,which is a key step toward consistent institutional participation across borders. In the U.S., the market is actively debating a comprehensive market-structure framework - covering areas like SEC vs CFTC oversight, treatment of DeFi, and rules around stablecoins (including whether “stablecoin rewards” should be permitted). Those debates are active in Washington right now, and they’re shaping how quickly large institutions move from “interest” to scaled deployment.

Now that you have successfully gone public and raised over $200 million from your floatation, what are BitGo's plans in terms of growth strategy, in particular in Europe?

Our focus remains the same: delivering the most secure and scalable infrastructure in the digital asset economy, and using the added financial flexibility of being a public company to support long-term growth for clients and the business.

In Europe specifically, we’re building on our expanded regulatory footprint, including our MiCA license, to meet institutional demand with regulated custody, trading, settlement, liquidity, and infrastructure. The priority is continued global expansion and investment in innovation, while staying anchored to our security-first approach.

Importantly, this does not change our mission or strategy. As a public company, our focus remains exactly the same: delivering the most secure and scalable infrastructure in the digital asset economy.

What structural or regulatory developments is the digital asset industry currently focused on?

In the European Union, MiCA remains the most significant structural development. It establishes uniform requirements for crypto-asset issuers and crypto-assets service providers - including custody and trading - and creates an EU-wide regime for stablecoins. EU member state regulators are now focused on enforcement and processing authorizations.

In the United States, the industry is focused on clarity around market structure and stablecoins frameworks. While not finalized, these initiatives aim to provide clear definitions and compliance pathways for institutions, which would reduce uncertainty and support deeper participation from traditional markets.

Globally, the emphasis remains on regulatory clarity, risk-based rules, and harmonization - balancing innovation with investor protection and financial stability. These structural developments are expected to shape the next phase of mainstream institutional engagement.