Brink's Company, a firm known for its armored trucks carrying cash, has made a strategic investment in and partnered with crypto custody firm BitGo.
Brink's will become BitGo's global secure logistics and vaulting provider as part of the firm's partnership, the firm's Manager of Digital Assets Zac McKenna said in a statement.
The deal terms were not disclosed, and the board of directors for either firm has not changed following the investment, a company spokesperson told The Block.
'Increasingly digital world'
"BitGo’s strong brand reputation, market position and long track record of success in the digital asset industry increases our presence in the fast-growing and evolving blockchain landscape," McKenna said. "In an increasingly digital world, it was a logical next step for Brink’s, the global leader in physical security and logistics, to partner with BitGo, the leader in digital asset security and custody."
BitGo maintains more than 1,500 clients across 50 countries, according to a company statement.
BitGo's valuation sits at $1.75 billion after a $100 million Series C round in August 2023, which the firm used to fund strategic acquisitions and global expansion, The Block previously reported.
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