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BitGo acquires Harbor to extend digital asset capabilities

California based digital asset financial service provider BitGo has announced its acquisition of  Harbor, a digital security platform provider along with its broker-dealer and transfer agent subsidiaries. Through the acquisition, the crypto custodian is planning to extend its capabilities in addressing the digital assets for institutional investors and to provide the base for full-stack digital assets solution.

“Our vision has always been bigger than wallets and custody, and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services. We believe participants will ultimately need trusted, full-stack solutions for digital currencies and now BitGo is well positioned to address institutional requirements as the market develops,” said Mike Belshe, CEO, BitGo.

The acquisition of Harbor follows the crypto custodian’s acquisition of Hedge whose infrastructures formed the foundation of its Staking.

“BitGo has been an important partner since Harbor’s inception. We’ve worked closely together to integrate BitGo Business Wallets and BitGo Custody into Harbor’s services. Harbor provides BitGo with a complementary technology stack for the lifecycle of digital securities, as well as important service capabilities through our digital assets broker-dealer and transfer agent subsidiaries,” said Josh Stein, CEO, Harbor.

Founded in 2017, Harbor’s goal is to become the one-stop-shop platform for security token issuers. The company received investments from venture capital firms including Andreessen Horowitz, Craft Ventures, Fifth Wall, Valor Equity Partners and VY Capital. The company in 2019 received a transfer agent license from the Securities and Exchange Commission (SEC).

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