Cryptocurrency custody company BitGo completes $100 million financing at a valuation of $1.75 billion

ChainCatcher news, according to Bloomberg, cryptocurrency custody company BitGo Inc. announced a $100 million financing at a valuation of $1.75 billion.

It is reported that BitGo ensures the security of crypto assets by protecting private keys, sometimes in physical vaults. The company is currently the custodian for creditors of the bankrupt digital asset exchange FTX, while also handling its legal proceedings. Other clients of BitGo include financial services company Swan Bitcoin and blockchain developer Mysten Labs Inc.

Additionally, according to crypto data platform RootData, BitGo has previously completed a total of $66.5 million in financing, with investors including institutions such as Goldman Sachs and Galaxy Digital.