Blockchain security startup BitGo is acquiring a digital asset custodian based in South Dakota that holds more than $12 billion in assets. The acquisition comes on the heels of BitGo's $43 million Series B in December.
While the terms of the deal are not being disclosed at this time, the acquisition comes after the two companies had worked together for years. Previously, BitGo had provided cold storage for Kingdom Trust's bitcoin, ethereum and other asset holdings, Belshe told CoinDesk. Indeed, both firms had previously partnered with BitcoinIRA to create products around the cryptocurrency.