BitGo, a US-based cryptocurrency custody company, said in a filing with the US Securities and Exchange Commission that it will buy NYDIG IF Holdings, the institutional trading unit of NYDIG, for US$42.5 million in cash and stock, plus up to US$15 million in cash tied to revenue milestones.

The acquisition will add derivatives, structured products, financing, and other capital markets services to BitGo’s custody, settlement, and wallet business.

The consideration includes US$7 million in cash and about US$35.5 million in BitGo stock. BitGo will also grant NYDIG registration rights for the shares issued.

Separately, BitGo agreed to issue restricted stock units and cash retention awards to transferred employees if a revenue milestone is met.

The deal builds on BitGo’s institutional markets business, which already offers digital-asset prime brokerage and connects institutions with global digital-asset markets.

🔗 Source: CoinDesk