YZi Labs – formerly Binance Labs – has officially joined as a strategic investor in BitGo's initial public offering (IPO), marking a significant milestone as this leading cryptocurrency custody company lists its shares on the New York Stock Exchange (NYSE).
According to the latest announcement, YZi Labs stated that its participation in BitGo's IPO reflects its long-term belief that tightly regulated crypto infrastructure in the US will soon become indispensable, amidst the growing global shift of institutional Capital towards digital assets. While not disclosing the size of the investment, YZi Labs confirmed that it participated in the offering as a strategic institutional investor, rather than simply seeking short-term profits.
BitGo's listing quickly attracted the attention of Wall Street investors and the global financial community. In its first trading session, BitGo shares (BTGO) surged sharply at the open before correcting in line with market trends. At the close, BTGO still recorded a 2.72% increase, reflecting the positive but cautious sentiment of investors towards a crypto company entering the traditional stock market.
BitGo is currently XEM one of the most reputable names in the institutional digital asset custody sector. The company provides custody, Staking, stablecoin issuance, and financial infrastructure solutions for institutional clients. According to published data, BitGo is protecting approximately $82 billion in assets, serving over 5,100 institutional clients in more than 100 countries, including investment funds, exchanges, banks, and major financial institutions.
YZi Labs, formerly Binance Labs, highly values BitGo's regulated trust model and its security record spanning over a decade without any major cyberattacks. This is XEM as a key competitive advantage in a context where organizations increasingly prioritize legal compliance and asset security when entering the crypto market.
Ella Zhang, Director of YZi Labs, emphasized that BitGo's "unhacked" security record for over 10 years is proof of the solid technological foundation built by CEO and founder Mike Belshe. Belshe is not only a "Bitcoin OG" but also a veteran technology architect of the modern internet, having played key Vai at Netscape and Google Chrome in the early days of web development.
