BitGo Acquires HeightZero to Expand Crypto Management and Investment Services

BitGo, a cryptocurrency custody company, has acquired HeightZero, a fintech platform for digital asset management and investment fund services. Details of the transaction have not been disclosed.

HeightZero is a technology platform in the registered investment advisor (RIA) world that enables institutional investment firms and independent RIAs to efficiently add digital assets to their clients' portfolios. It is also the first provider of its kind to build a complete digital asset trading and reporting solution that specifically targets the RIA demographic, providing services including portfolio rebalancing, statement generation, tax loss harvesting, and automated billing for cryptocurrency investments.

Through this acquisition, BitGo will be able to offer a comprehensive suite of solutions for wealth managers looking to navigate the cryptocurrency landscape, and help them embrace crypto investment opportunities.

Mike Belshe, CEO of BitGo, said: "We've been proud to have partnered with HeightZero over the past several years and to be a part of their incredible growth. This acquisition is a doubling down in the space for BitGo, HeightZero, and our clients. We look forward to maintaining HeightZero's leadership position, while increasing the safety, security, and features provided in the joint products."

While the global economic situation is still sluggish, BitGo has shown a good performance, on the contrary. Recently, the custodian secured USD $100 million in funding, boosting its valuation up to $1.75 billion. In September, BitGo formed a new partnership with KEB Hana Bank​, one of the largest South Korean banks, and plans to launch their joint cryptocurrency custody venture in the second half of 2024 in Korea.