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Crypto

BitGo Q3 revenue falls 51 percent on weak crypto trading

BitGo\'s third-quarter revenue fell to $2.85 billion, down 50.9 percent from a year earlier and 34.1 percent from the previous quarter, The Block reported. Digital asset sales dropped 52 percent year on year and 35.2 percent quarter on quarter. The company cited a weak crypto trading market and a higher share of low-margin stablecoin trades. Net profit rose to $44.1 million, helped by $71.5 million in unrealised gains on digital assets.

Crypto

BitGo, OTC Markets seek to give broker-dealers access to tokenised securities trading

BitGo and OTC Markets Group are pursuing a partnership to support about 150 broker-dealers in trading, settling and custodying digital asset securities. If implemented, broker-dealers would be able to use the same electronic infrastructure they currently use for over-the-counter securities and U.S. stock trading to quote, trade and settle digital asset securities. The plan combines OTC Link ATS with BitGo’s custody infrastructure.