BitGo acquires token platform Harbor to expand into the digital securities space

Quick Take

  • Cryptocurrency custodian BitGo has acquired security token startup Harbor to expand outside of the custody market
  • BitGo will take over Harbor’s subsidiaries with a broker-dealer license and a transfer agent registration as well as absorbing the startup’s technology, the talent, and the clients
  • The security token market has been slow to take off; Harbor saw its high-profile dorm tokenization deal fall apart and has not shown progress on its plan to tokenize venture capital firm funds.