The deal is another sign of M&A heating up in the digital asset industry following PayPal’s March agreement to buy custody specialist Curv. It also highlights the importance of custodians to this asset class. More specific to Galaxy, this move will help the company on its stated intention to become a prime broker. This can only be achieved with custody.
Canada-based Galaxy also said it will ‘undergo a domestication process’ on an intended path to US listing later in 2021. Last year, BitGo was reported to have been in acquisition talks with fintech player PayPal, which offered as much as USD 750 million in cash for the custody company.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now