BitGo’s pitch is simple — and very different from retail crypto platforms: security, custody, and settlement first. If exchanges are built around matching engines and liquid markets, BitGo is built around the plumbing that institutions care about: regulated custody, authorization policies, settlement workflows, and controls that satisfy compliance teams.
That’s why BitGo is often used as “the vault layer” behind funds, exchanges, and large holders — and why its product line keeps expanding around the same theme: keep assets in qualified custody, then add trading, financing, and settlement without forcing clients to move coins into riskier operational setups.
Quick platform snapshot
| Category | BitGo at a glance |
|---|---|
| Founded | 2013 |
| Founders | Mike Belshe (Co-founder & CEO) |
| Current CEO | Mike Belshe |
| What it is | Digital asset infrastructure company: regulated custody + prime services + settlement |
| Regulated entities | BitGo Bank & Trust, National Association (OCC-authorized); BitGo New York Trust Company, LLC (NYDFS-regulated qualified custodian) |
| Core products | Qualified custody (cold storage), wallets, staking, prime (trading/financing/collateral/settlement), Go Network settlement |
| Fees | Set out in a Fee Schedule under BitGo’s service agreements (not typically published as a public price list) |
| KYC/AML | Institution-grade onboarding and compliance controls are standard for custodial/prime services |
| Restricted regions | U.S.-embargoed jurisdictions listed in terms (Crimea, Donetsk, Luhansk, Cuba, Iran, North Korea, Syria) + broader “restricted jurisdiction” controls under sanctions/export laws |
1) Background: history, founders, leadership
BitGo was founded in 2013 and is led by Mike Belshe, its CEO and co-founder. The company positions itself as a “digital asset infrastructure” provider delivering custody, wallets, staking, trading, financing, and settlement from regulated cold storage.
2) Licensing and regulation: what makes BitGo “institutional”
BitGo emphasizes operation through regulated trust entities and custody frameworks that meet “qualified custodian” expectations for many institutional mandates.
Key regulatory positioning BitGo publicly highlights:
- BitGo Bank & Trust, National Association — a national banking association authorized by the Office of the Comptroller of the Currency (OCC) to exercise fiduciary and custodial powers.
- BitGo New York Trust Company, LLC — a qualified custodian regulated by the New York Department of Financial Services (NYDFS).
This matters because for many professional allocators, “custody” isn’t a feature — it’s a requirement. BitGo’s model is designed to fit those requirements with regulated entities, documented service agreements, and formal controls.
3) Full list of BitGo services and products (complete catalog)
A) Qualified custody (core)
- Regulated cold storage custody for supported digital assets
- Custodial account structure for institutional clients, including custody of digital assets and (in certain agreements) supported fiat balances
- Operational controls designed for institutional governance (segregation, authorization policies, controlled withdrawals)
B) Wallet infrastructure
BitGo offers wallet tooling across operational needs:
- Institutional wallets designed for treasury operations and controlled signing workflows
- Wallet services that can support API-driven operations for platforms that need programmatic custody and movement controls
- Non-custodial wallet tooling exists in BitGo’s ecosystem, but the flagship value proposition is regulated custody for institutions
C) Prime services (the “one operational flow” stack)
BitGo’s prime platform is positioned to combine:
- Trading access (liquidity and execution workflows)
- Financing (capital and credit-style workflows for institutions)
- Collateral management
- Settlement tied into custody operations
The core idea: reduce operational friction by keeping assets in regulated custody while still enabling institutional strategies.
D) Trading (institutional execution)
BitGo offers institutional crypto trading workflows designed for:
- Liquidity providers and market makers
- Ultra-high-net worth and institutional users
- Cross-product support that connects trading with financing, staking, and custody
E) Go Network (off-chain settlement network)
Go Network is BitGo’s settlement layer for moving value with counterparties:
- Instant 24/7 settlement with counterparties on the network
- USD and digital asset settlement
- Assets are described as being held in regulated custody while using the network for settlement operations
F) Staking as a Service
BitGo supports staking from:
- Self-custody hot wallets or regulated custody accounts (depending on setup)
- One-click staking workflows and reporting built for institutional accounting and oversight
- Staking is positioned as “enterprise-grade validators” with on-demand reporting
G) Stablecoin and treasury-oriented services
BitGo also markets stablecoin-related and treasury services in its broader infrastructure stack (product availability depends on entity and jurisdiction), typically aimed at institutional issuers, platforms, and large treasuries.
H) APIs and integrations (developer + platform layer)
BitGo provides integration tooling for businesses that need:
- Programmatic custody operations
- Settlement and treasury automation
- Institutional reporting and operational controls through APIs
4) Fees and costs (what you’ll pay)
BitGo’s fees are not generally presented as a simple public “pricing page,” because the business is structured around institutional agreements.
What BitGo does publish in its agreements:
- Fees are defined in a Fee Schedule tied to the applicable service agreement.
- BitGo reserves the right to modify fees with 30 days’ prior notice under the custodial services agreements.
In practice, BitGo cost structure typically comes from:
- Custody fees (often AUM-based or service-tier based, depending on arrangement)
- Transaction / withdrawal fees (operational movement, settlement rails, expedited workflows)
- Trading and prime-related fees (execution, financing, collateral services)
- Staking-related fees or revenue share (product-dependent)
- Plus standard network fees (blockchain transaction costs) when assets move on-chain
5) KYC and AML (what’s required)
BitGo operates as a regulated custody and prime services provider, so KYC/AML is a core part of onboarding and ongoing use, especially for:
- Custodial accounts under regulated entities
- Prime, trading, financing, and settlement services
- API-based institutional services
Additionally, BitGo’s terms and service agreements include compliance representations and controls related to sanctions, export laws, and restricted jurisdictions.
6) Availability and restricted jurisdictions
BitGo’s Terms of Use include export/sanctions restrictions. The terms explicitly state you may not take the app to U.S.-embargoed countries, listing (as of the terms):
Crimea, Donetsk, and Luhansk regions of Ukraine, Cuba, Iran, North Korea, Syria. More broadly, BitGo’s services include “restricted jurisdiction” controls aligned with U.S. sanctions/export frameworks, and specific product availability can vary by entity and location.
Who BitGo is best for
- Funds and institutions that need qualified custody under regulated trust entities
- Exchanges, platforms, and treasuries that want wallet infrastructure + settlement rails
- Trading firms that want prime services connecting custody, trading, financing, and settlement
- Institutions that need staking with enterprise-grade controls and reporting
FAQ
- Is BitGo an exchange?
No. BitGo is primarily a custody and digital asset infrastructure provider. It offers trading and prime workflows, but its foundation is regulated custody and settlement. - Who founded BitGo?
BitGo was founded in 2013. Mike Belshe is the co-founder and CEO. - What is “qualified custody” at BitGo?
BitGo provides custody through regulated entities, including a NYDFS-regulated New York trust and an OCC-authorized national trust bank, designed to meet institutional custody expectations. - Does BitGo offer staking?
Yes. BitGo offers Staking as a Service, including staking from self-custody wallets or regulated custody (depending on the setup). - What is Go Network?
Go Network is BitGo’s settlement network enabling instant 24/7 settlement of USD and digital assets with counterparties, with assets held in regulated custody. - Are BitGo fees public?
BitGo fees are typically defined in a Fee Schedule under its service agreements rather than a single public retail-style price list. - Does BitGo require KYC?
Yes for most institutional custody/prime services. BitGo is a regulated provider, and onboarding commonly includes KYC/AML checks and compliance controls. - Which countries are restricted?
BitGo’s terms list U.S.-embargoed jurisdictions including Crimea, Donetsk, Luhansk, Cuba, Iran, North Korea, and Syria, and services may be restricted in other sanctioned jurisdictions as required by law. - Can retail users use BitGo?
BitGo primarily targets institutions, platforms, and professional users. Retail access depends on the specific product, jurisdiction, and entity offering the service. - What are the main risks?
Operational and counterparty risk in service integrations, compliance restrictions, and the broader reality that custody and settlement providers operate under strict legal constraints that can affect withdrawals and access in restricted cases.