BitGo has set its sights on turning trading, lending and settlement into the main source of revenue for the U.S. crypto custodian, with CEO Mike Belshe saying on Oct. 6 that he eventually wants prime brokerage to account for the entire business.
Bloomberg reported from Singapore that Belshe wants BitGo to make money from helping institutional customers trade and finance their digital assets instead of relying heavily on fees charged simply for storing them.
“We would like it to be 100% of our revenue,” Belshe said of prime brokerage. The comment describes his long-term ambition, and BitGo has not disclosed a timetable or formal revenue target for reaching that level.
