Digital asset custody company BitGo enters the digital securities field through acquisition of Harbor

Digital asset custody company BitGo recently announced its acquisition of Harbor, a digital securities online platform.

"Our vision has always been beyond wallets and asset custody," BitGo CEO Mike Belshe said in a statement provided to Cointelegraph on February 18. "The acquisition of Harbor further advances BitGo's vision of building a new digital foundation platform for financial services."

Harbor's website also highlights the acquisition on a banner at the top of its homepage .

BitGo's acquisition includes several other companies

Taking over Harbor also means that BitGo has gained control of the platform's subsidiaries, including brokerage companies and money transfer companies. BitGo also recently gained control of cryptocurrency infrastructure services company Hedge.

According to reports , in general, BitGo handles more than 20% of the global bitcoin transfer business.

Before the acquisition, BitGo worked closely with Harbor

Harbor CEO Josh Stein said in a statement that prior to the acquisition, BitGo had been working with the Harbor digital securities platform since its establishment.

"We work closely to integrate BitGo business wallets and BitGo hosting services into the Harbor service," Stein said.

"Harbor provides BitGo with a complementary technology stack in the digital securities ecosystem and provides important service capabilities through our digital asset broker dealers and transfer agent subsidiaries."

BitGo stated that Harbor was established in 2017 and was the first blockchain business to obtain FINRA broker-dealer registration rights. It is also a digital asset transfer business authorized by the SEC.

BitGo is also continuing to develop wallet products as the company announced support for Tron and EOS hosting services in the second half of 2019.

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More information: CointelegraphChina / Login