BitGo Gears Up for a Game-Changing IPO in 2025: Riding the Crypto Wave!

From $60B to $100B: BitGo's Stunning Surge in Assets

Hold onto your hats, crypto fans! BitGo, the powerhouse in crypto custody, is eyeing an IPO as early as the second half of 2025. They've seen their assets under custody skyrocket from $60 billion to a whopping $100 billion in just the first half of this year. Abel Seow, BitGo's Asia-Pacific managing director, spilled the beans in a June 25 Bloomberg interview, crediting this 67% surge to the skyrocketing global crypto adoption and clearer regulatory skies.

Staking Half Their Holdings: BitGo's Bold Bet on Blockchain

Get this: half of BitGo's assets are now in staking! That's right, they're locking up tokens to help validate blockchain transactions and rake in those sweet yields. Since their launch back in 2013, BitGo has been juggling custody, trading, lending, and borrowing for the big players in the crypto game.

$100M Raised in 2023: BitGo's Valuation Soars to $1.75B

Back in 2023, BitGo pulled in a cool $100 million in a Series C round, boosting their valuation to a jaw-dropping $1.75 billion. Heavy hitters like Valor Equity Partners, DRW Holdings, Redpoint Ventures, and Goldman Sachs backed the play. Talk about some serious firepower!

IPO on the Horizon: BitGo's Bold Move Amid Crypto-Friendly Policies

An IPO for BitGo? You bet! This move would mark a huge milestone, adding them to the ranks of crypto companies going public. And with President Donald Trump back in office and pushing pro-crypto policies, including appointing crypto-friendly regulators and pushing for stablecoin laws, the stars are aligning for BitGo's big leap.

Going Global: BitGo's International Expansion

BitGo's not just sitting still; they're expanding their empire! In 2024, South Korea's Hana Financial Group and SK Telecom snapped up shares in BitGo Korea, and Abel Seow says the joint venture is "progressing well." Plus, they kicked off operations in Dubai in 2025. Watch out, world!

Strategic Moves Galore: BitGo's Power Plays This Quarter

BitGo's been making moves left and right this quarter. On June 19, KuCoin jumped on board with BitGo Singapore's Go Network for off-exchange settlements, boosting trust and security for big-time trades as part of KuCoin's $2 billion Trust Project. And on June 23, BitGo teamed up with HTX to offer secure, insured off-exchange trading for their heavy-hitting clients via the Go Network.

XRP and Beyond: BitGo's Expanding Ecosystem

BitGo's not stopping there. They facilitated a $250 million XRP acquisition for VivoPower's treasury in three tranches this June and are ramping up support for the XRP ecosystem, including staking for Flare and Songbird. And earlier this month, they announced plans to build custody and settlement tools on the Hedera (HBAR) network to supercharge institutional DeFi. The future's looking bright!