CA-based BitGo Acquired Brassica. a supplier of investment infrastructure for alternative investments and private securities. The deal’s total value was not made public.
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Mike Belshe, CEO of BitGo, said: “With this acquisition, BitGo becomes the first major financial services firm to be able to provide comprehensive infrastructure support for both traditional private securities and blockchain-based assets, while significantly expanding our global presence.”
The acquisition will promote the digitalization of the alternative asset sector in favor of a 24/7, global financial services economy.
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After closing a $100 million funding round, BitGo, which was estimated to be worth $1.75 billion in 2023, plans to continue developing new Brassica products across asset classes in order to offer its clients complete services and integrated platform solutions.
Brassica is a financial technology business headed by CEO and Founder Youngro Lee. The company specializes on infrastructure solutions for alternative assets and private investing.
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Offering numerous financial tools and highly regulated services, its comprehensive back-end financial and investment infrastructure services help businesses grow legally compliant and scalable while protecting the assets of their clients. These services are provided through its transfer agent and its Wyoming trust company subsidiaries.
About Brassica
Together, let’s build the future. The sharpest thinkers and doers in the financial space are coming together thanks to them. They push the boundaries, question the established quo, and are passionate about providing developers with the resources they require to open up new avenues for investment-enabled opportunities worldwide. Brassica is who they are.
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About BitGo
BitGo offers regulated custody, lending and borrowing, and core infrastructure, delivering the most scalable and secure solutions for the digital asset ecosystem. Having been founded in the early days of cryptocurrency in 2013, BitGo invented the multi-signature wallet and later developed TSS to outperform MPC products from other firms.
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