BitGo acquires Lumina as part of its institutional platform

by in Blockchain News

BitGo

BitGo announced the purchase of a startup Lumina, which contributes economic and tax reporting services. The new procurement will let BitGo extend the range of services and create a universal cryptocurrency platform for investors.

Organization CEO Mike Belsh said that now BitGo customers will be able to trade, carry out staking and take loans on a single platform.

“Our customers have many wallets and accounts on many exchanges, and this can direct to a partial view of the digital assets that they own,” he said. “Now, BitGo customers have a single and intuitive toolbar with tax and economic reporting capabilities.”

Trending: Russian president signed law "On digital financial assets"

“BitGo is the first corporation in the digital asset market to start a range of custody, institutional lending, and different financial services. BitGo is not like any firm in the market for digital assets since no other organization provides these services in all categories,” said the company’s representative.

Founded in 2018, Lumina startup has attracted $ 4 million investment from DragonFly Capital and Bain Capital Ventures. A BitGo spokesman refused to disclose the transaction amount.

Lumina CEO Chen Fang, who is going to transfer to BitGo as product director, said the company plans to launch new commodities and services in the nearest future.