BitGo launches Go Network for institutional post-trade settlements.
BitGo expands crypto custody and trading services, eyeing institutions.
CEO emphasizes need for U.S. presidential support for digital assets.
BitGo co-founder and CEO Mike Belshe recently shared insights on various aspects of the cryptocurrency industry and BitGo’s latest projects during a Thinking Crypto podcast episode. Belshe asserted that “crypto is an unstoppable and a major political force” and provided updates on the evolving crypto landscape.
The CEO also revealed that BitGo has been actively expanding its team and initiatives to align with current crypto market trends, including the launch of Go Network. This new platform facilitates post-trade settlements within qualified custody, addressing a critical need for institutional clients in the cryptocurrency space.
Belshe explained that while self-custody solutions suit individuals, businesses require more secure and compliant methods. Therefore, the Go Network aims to provide fast withdrawals and consistently qualified custody, meeting the evolving demands of institutional clients in the crypto market.
Furthermore, Belshe highlighted BitGo’s growth in crypto trading and custody services, boosted by the positive impact of the ETF markets. According to him, the company is preparing for the next wave of institutional investors, including more conservative entities like pension funds. To support this, BitGo is enhancing its global network of custodians, with significant progress in regulatory approvals in regions like Dubai, Singapore, and Europe.
Belshe also touched on cryptocurrency’s interaction with the political landscape. He explained that while crypto is often seen through a political lens, the real issue lies in the significant regulatory power held by the U.S. president.
The CEO also emphasized the importance of a president supporting digital assets, regardless of party affiliation. Belshe mentioned that Donald Trump and RFK Jr. have shown pro-crypto stances, contrasting with President Biden’s more restrictive approach.
Moreover, Belshe confirmed that sovereign wealth funds, particularly in Dubai and the UAE, are turning to crypto investments to diversify their economies beyond oil. He added that the regulatory environment in these areas is becoming more conducive to cryptocurrency investments.
Belshe acknowledged the growing stablecoin market, citing examples like USDC, Ripple’s upcoming stablecoin, and others from Van Eck, Blackrock, and Paxos. Although he did not reveal specific BitGo products, he hinted at Bitgo’s involvement in custodial services for stablecoins.
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