- BitGo and HashKey Cloud signed a strategic agreement covering staking, trading, custody and RWA tokenization.
- BitGo CEO Mike Belshe wants prime brokerage to become the company’s core business, expanding its trading, lending and settlement services.
BitGo and HashKey Cloud have signed a strategic partnership agreement covering staking, institutional trading, custody and real-world asset (RWA) tokenization as the two companies expand their work with institutional clients in Asia.
The agreement was signed in Singapore during TOKEN2049 week and expands a staking collaboration the companies began in July. Under the new partnership, HashKey Cloud will become a validator partner on the BitGo platform, initially supporting Ethereum and Solana staking for BitGo’s eligible institutional clients.
The companies will also work together on institutional trading flows. BitGo will provide custody solutions to HashKey Capital and its associated funds, subject to onboarding and applicable agreements. In addition, BitGo will serve as a custody partner for HashKey’s RWA tokenization initiatives, giving the partnership coverage across several parts of the digital asset market.
The agreement was signed by Abel Seow, Managing Director and Head of APAC Sales at BitGo, and Leo Li, CEO of HashKey OnChain BG. Both companies said the services will be available only to eligible clients and where permitted under local regulations.
BitGo Targets Prime Brokerage for Growth
The partnership comes while BitGo CEO Mike Belshe outlines a broader shift in the company’s business strategy. In an interview with Bloomberg in Singapore on Oct. 6, Belshe said BitGo wants prime brokerage to become the main engine of its business as the company expands trading, lending and settlement services.
Belshe said he would “ultimately like prime brokerage to account for 100% of BitGo’s revenue,” arguing that the company can create more value by helping clients trade and finance digital assets rather than relying mainly on custody fees.
BitGo has already been building that infrastructure. Its BitGo Prime platform combines trading, financing and collateral management, while its custody and settlement businesses remain part of the broader institutional offering. The company also launched BitGo Link in August to help institutions manage capital across BitGo and connected exchanges for trading and financing workflows.
The HashKey agreement therefore adds another institutional relationship to BitGo’s expanding network, while Belshe’s comments show where the company wants its business to go next.
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