BitGo acquires Brassica

By acquiring Brassica, BitGo can solidify its position in the industry and become one of the first financial services firm to be able to offer complete infrastructure assistance for both traditional private securities and blockchain-based assets. Additionally, the acquisition enables the company to expand its global presence. BitGo plans to develop new Brassica products across asset classes to provide enhanced services and integrated platform solutions for its customers. Currently, Brassica’s technology stack includes multi-asset custody, advanced capital formation solutions, and simplified record-keeping and transfer agent services. The strategic move to acquire Brassica is set to expand BitGo’s ability to increase innovation in the alternative asset industry while assisting a larger customer base.

According to BitGo’s officials, currently, there is a separation in financial services, with a segment of the sector managing traditional securities and the other dealing with modern blockchain-based assets and cryptocurrencies. The acquisition of Brassica supports BitGo in merging these services and offering them to its customers. Representatives from Brassica underlined that, by joining forces with BitGo, the company advances its commitment to creating an improved financial infrastructure. The company provides an API-enabled infrastructure for the alternative assets industry, with this sector seeing an accelerated growth and offering new investors globally. Brassica’s technology-centric development, linked with its domain knowledge in securities and banking laws, positions the company in the market for clients dealing with the complexities of private securities and digital assets.

By combining BitGo’s position in digital asset services with Brassica’s private security infrastructure, the two companies support the advancement of financial services, allowing them to become more digitalised, borderless, and inclusive.

As a secure and scalable wallet solutions for the digital asset economy provider, BitGo offers regulated custody, staking, trading, and core wallet infrastructure. In addition to the acquisition of Brassica, the company recently announced several developments that advance its expansion strategy. At the beginning of January 2024, BitGo obtained in-principle approval for a Major Payment Institution (MPI) licence in Singapore. The approval was set to enable BitGo to operate and provide digital payment token services to clients in the region while waiting for the complete licence.

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