PANews reported on February 19 that crypto custody company BitGo Inc. has launched a global digital asset over-the-counter trading platform as it plans to go public, according to Bloomberg. As cryptocurrency prices rise and demand for cryptocurrencies from institutional investors such as hedge funds increases, BitGo has expanded its business. Earlier this month, people familiar with the matter revealed that the company is considering an initial public offering.

In a statement on Tuesday, BitGo said the OTC desk will provide spot and options trading services as well as lending services to institutional investors to facilitate margin trading. Since the beginning of last year, the company has begun serving some selected clients, with trading volumes of billions of dollars and a loan book of more than $100 million. In addition to the United States, the trading desk is also available in other jurisdictions including Hong Kong and countries in the Middle East.