BitGo buys Harbor asset tokenization platform

Financial services and custody company BitGo announced the purchase of asset tokenization platform Harbor. Thiswill help the company enter the digital securities market.

Representatives of BitGo did not disclose the amount of the transaction andthe date of the start of negotiations, however, it was reported that an agreement was reached quite quickly. The company's plans for Harbor are also unknown. BitGo only said that the acquisition gives the company all the necessary infrastructure to create solutions in the field of token stocks, but emphasized that now all plans are in the initial stage.

Last September, it was reported that the startupHarbor tokenizes $100 million in iCap real estate fund assets, and in November the company received broker-dealer and securities transfer agent licenses in the United States. After purchasing Harbor, BitGo inherited these licenses and will now be able to provide the corresponding services.

BitGo has long believed instock token potential. Previously, the company offered custodial services to both Harbor and rival Securitize. In addition, BitGo also plans to launch trading services, to which Harbor broker-dealer license will help. Announcements of new BitGo products are expected to take place later this year.

Let us remind you that the BitGo service recently launched divisions in Switzerland and Germany, with subsidiaries regulated by local supervisory authorities.

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