BITGO HOLDINGS Business Summary

BitGo Holdings, Inc. (BTGO) operates as a leading institutional digital asset infrastructure provider, generating revenue through a multi-tiered model that includes asset-under-custody (AUC) fees, transaction-based commissions via its prime brokerage, and recurring SaaS subscription fees for its Wallet-as-a-Service (WaaS) platform. The company’s business is organized into four core segments: Regulated Custody, provided through its global trust companies; Prime Services, which facilitates institutional trading, lending, and borrowing; the Go Network, a real-time settlement and liquidity platform; and Infrastructure, which provides the technical architecture for multi-signature and MPC (Multi-Party Computation) wallets. BitGo positions itself as the "gold standard" for security and regulatory compliance, competing directly with Coinbase Institutional, Fireblocks, and Anchorage Digital. It distinguishes itself from these peers by maintaining a strictly institutional focus and a robust regulatory footprint that spans multiple international jurisdictions. BitGo was co-founded by CEO Mike Belshe, a prominent computer scientist and veteran of Google where he co-invented the HTTP/2 protocol, and Ben Davenport, a serial entrepreneur and former Microsoft engineer. The executive leadership team is further bolstered by Chief Operating Officer Chen Fang, who previously held senior product roles at Zenefits and Microsoft, and Chief Financial Officer Thomas S. (reflecting current 2026 appointments). The company is backed by a prestigious roster of institutional investors, including Goldman Sachs, Craft Ventures, DRW, and Valor Equity Partners. This combination of deep-tech Silicon Valley pedigree and high-level Wall Street financial backing has enabled BitGo to serve as a critical bridge between traditional capital markets and the decentralized digital asset ecosystem.