The crypto custodian and services provider is hiring across the board in the region on the back of booming client and revenue growth.
BitGo, one of the world’s largest bitcoin (BTC) transaction processors, has big expansion plans in the region, Dan Burke, managing director of institutional sales, told finews.asia.
Founded in 2013, the Palo Alto headquartered company provides institutional investors and crypto platforms with liquidity, custody, and security services. It has expanded from 3 staff in the region to 15 currently, and is looking to grow its team further, with marketing, design, sales and engineering roles among its Singapore vacancies.
«BitGo APAC has largely just been an extension of BitGo U.S., but due to the rapid client and revenue growth, we are placing more resources in APAC. We are a Payments and Services Act (PSA) applicant in Singapore and thus looking to establish this as our regional hub,» Burke said.
Booming Demand
According to Burke, demand among institutions for digital asset services is booming in Asia Pacific. BitGo has experienced 200 percent client growth in the region, along with 500 percent revenue growth in the region over the past year. BitGo is currently the custodian for multiple SFC-regulated funds in Hong Kong as well as the custodian/wallet provider several of the PSA approval-in-principle licensed firms in Singapore.
«You can’t argue that some crypto native funds and entities are rivalling their traditional finance peers from a size, client base, and revenue perspective,» Burke said.
BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. In May 2021, crypto investment firm Galaxy Digital said it would acquire the company for $1.2 billion in stock and cash.
