With the acquisition, Galaxy Digital will be positioned as a global full-service platform for institutions looking to access the cryptocurrency economy, the release stated. It will offer a range of industry-leading products.
BitGo was the first independent regulated custodian purposefully built for digital assets. Some of the benefits of the acquisition will be allowing those services to reach more people, according to the release.
AiX is a company known for building an artificial intelligence (AI)-powered negotiation and matching engine for institutional over-the-counter (OTC) traders, the post stated. The AiX team brings “deep engineering, trading and operational expertise from some of the world’s most respected financial institutions, including J.P. Morgan and Goldman Sachs.”
AiX CEO Joe Evans spent 15 years trading and booking in derivatives markets, according to the post. He also previously launched a brokerage and sold it, and that brokerage ended up a pioneer in crafting new commodity derivatives.
The company plans to use the money “to expand our capabilities, our product offering and to continue making crypto useful across Latin America,” said Bitso Co-Founder and CEO Daniel Vogel in the release.
He added that the company also launched its new retail operation in Brazil, which will help it expand its crypto operations into more areas later, per the release.
Bitso has an upcoming product offering, too, which will be focused on serving customers around Latin America, and the company also plans to debut a crypto derivatives platform and interest bearing accounts for crypto, according to the release.