BitGo targets prime brokerage as main revenue engine for crypto business

BitGo: BitGo is a US digital asset infrastructure company focused on custody, wallets, trading, financing, and settlement services for institutional clients. The firm went public in 2026 and is expanding its prime brokerage capabilities to position these integrated services as the primary revenue driver. CEO Mike Belshe has described the goal of making prime brokerage account for all revenue by helping clients generate returns instead of charging custody fees. Mike Belshe: Mike Belshe is the co-founder and chief executive of BitGo, where he oversees strategy and business development. He recently highlighted the company's push into prime brokerage during an interview in Singapore and has discussed risks from vertically integrated crypto platforms in other recent appearances. Belshe has advocated for clearer regulatory separation between custody and trading functions. Business Model Shift: BitGo is prioritizing prime brokerage to move away from custody as a cost center toward services that enable clients to earn returns through trading, lending, and settlement. Regulatory Environment: The failure of the Clarity Act to advance in the US Senate in September 2026 has left market structure concerns unaddressed, prompting firms like BitGo to emphasize the need for distinct roles in custody, brokerage, and trading.