BitGo Acquires NYDIG’s Institutional Trading Business in $42.5 Million Deal

BitGo has agreed to acquire NYDIG’s institutional trading arm in a transaction valued at roughly $42.5 million, combining cash and stock, according to Decrypt. The deal expands BitGo’s capabilities in cryptocurrency derivatives, structured products and capital-markets services. It also gives BitGo additional tools to support institutional trading and financing. NYDIG will use the transaction to concentrate more closely on its power and data-center business. The acquisition marks an expansion of BitGo’s offering beyond its existing activities, adding products and financing functions aimed at institutional participants in digital-asset markets. Financial terms were reported as a mix of cash and equity, with the total value estimated at approximately $42.5 million.