Crypto custody company BitGo has added an OTC trading business and is considering an IPO.

BlockBeats News, February 19th, according to Bloomberg, cryptocurrency custody company BitGo Inc. has launched a global digital asset over-the-counter (OTC) trading business as it plans to go public. This expansion comes as institutional investors (such as hedge funds) are showing an increased demand for cryptocurrency.

As one of the largest digital asset custodians in the United States, BitGo primarily helps investors store their digital assets. According to sources familiar with the matter earlier this month, the company is considering an initial public offering (IPO).

In a statement on Tuesday, BitGo stated that its OTC trading division will provide institutional investors with spot trading, options trading, and lending services to facilitate margin trading. Since the beginning of last year, the company has started serving some clients, with trading volumes reaching billions of dollars and a lending scale exceeding $1 billion. Furthermore, this trading platform is not only applicable to the United States but also covers other jurisdictions, including Hong Kong and the Middle East.