Institutional Custodian BitGo Joins Forces With Spotex on Digital Asset Trading | LeapRate
BitGo Holdings (NYSE: BTGO), one of the largest names in digital asset custody, has partnered with trading venue Spotex to bring regulated custody and prime brokerage services to institutional crypto trading.
Under the new agreement, eligible clients will be able to trade digital assets on the Spotex ECN while their holdings stay safely parked with BitGo. The setup relies on BitGo’s Go Network, a settlement and clearing system that lets clients use custodied assets for trading without moving them first.
For institutions, the deal solves a common headache: the need to pre-fund trading accounts. By keeping assets in custody throughout the trading process, the partnership aims to free up capital and reduce counterparty risk, two issues that have long slowed institutional adoption of digital assets.
Spotex will stick to its role as an execution venue only, staying out of the trading itself. BitGo will manage custody, prime brokerage, and settlement, acting as the link between clients and liquidity providers.
This marks the first time Spotex has gone live with a digital asset custodian, though the company says the arrangement is not exclusive and it intends to build ties with more custodians going forward.
Joe Tuccio, who leads digital assets at Spotex, said pairing BitGo’s custody strength with Spotex’s execution capabilities should give clients a more secure and efficient way to trade. BitGo’s Adam Sporn said institutions are looking for simpler ways to access markets without giving up the controls they need.
The announcement follows Spotex’s recent hire of Tuccio to head up its push into digital assets.
