BitGo Acquires Harbor Digital Platform

Crypto custody platform, BitGo recently announced the acquisition of Harbor, a security token platform. As well as, Harbor’s broker-dealer and transfer agent subsidiaries.

Based on reports, BitGo plans to leverage the acquisition of Harbor in extending their reach of serving a wider class of digital assets for institutional investors. Also, the acquisition reportedly provides a foundation for a full-stack digital assets solution.

Mike Belshe, CEO of BitGo said: “Our vision has always been bigger than wallets and custody and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services.”

He also said that his company believes participants ultimately need to be trusted, full-stack solutions for digital currencies. And they’re well-positioned to address institutional requirements.

Besides, Josh Stein, the CEO of Harbor lauded their partnership with BitGo. He claimed the digital asset financial service provider played a crucial role since the inception of Harbor.

“We’ve worked closely together to integrate BitGo Business Wallets and BitGo Custody into Harbor’s services,” he said.

Josh Stein added that the acquisition provides BitGo a complementary technology stack for the lifecycle of digital securities. As well as, important service capabilities through their digital assets broker-dealer and transfer agent subsidiaries.

Notably, the acquisition of Harbor follows BitGo’s acquisition of Hedge, a leader in the scalable, programmatic deployment of staking infrastructure. This also formed the foundation of BitGo Staking.

About Harbor

Harbor security token platform commenced operation in 2017 with the goal of becoming the one-stop-shop platform for security token issuers. Afterward, the platform received investments from leading venture capital firms like Andreessen Horowitz. As well as, Craft Ventures, Fifth Wall, Valor Equity Partners, and VY Capital.

Importantly, in November 2019, Harbor became a registered transfer agent with the Securities and Exchange Commission (SEC). Therefore, becoming the first blockchain company to be both a FINRA-registered broker-dealer. Alongside, an SEC-registered transfer agent for digital assets.

To remain, BitGo recently announced the expansion of its services to Switzerland and Germany. The firm has opened two new arms in Europe.

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