Digital asset infrastructure provider BitGo and financial markets operator OTC Markets Group are forming a strategic alliance focused on bringing digital asset trading and custody infrastructure to broker-dealers utilising OTC Link ATS, OTC Markets’ SEC-regulated ATS.
The alliance is intended to support a range of digital asset securities, and as regulatory frameworks mature, allow broker-dealers to expand their offerings across all tokenised assets, commodities and the broader DLT-based financial markets.Under the proposed framework, participating broker-dealers would be able to quote, price, and execute trades in digital assets on OTC Link, which already supports the NMS and OTC equities markets. Once trades are executed, they would be routed to Bitgo via MatchHub, a service of Elysium LD Technology, which provides links to digital asset custodians.
Under the alliance, BitGo – via its BitGo Bank & Trust unit – would serve as the qualified custodian securing assets and facilitating settlement between the counterparties via its Go Network, an off-chain settlement infrastructure.
The proposed alliance is intended to preserve traditional market structure principles within digital asset markets. The OTC Link ATS’s Qualified Interdealer Quotations System enables broker-dealers to make markets and provide best execution for investors, while BitGo would provide enterprise grade, fiduciary oversight of tokenised assets as both counterparties qualified custodian.
“The future of digital asset markets will depend on infrastructure that institutions can trust,” says Mike Belshe, CEO and Co-founder of BitGo. “Financial markets function best when trading, custody and settlement responsibilities are clearly separated, and fiduciary protections remain intact. Together, BitGo and OTC Markets are working toward bringing those principles to digital assets, giving broker-dealers a regulated pathway into the market without compromising on operational control, transparency, or client asset protection.”
“Regulation in digital assets is moving quickly, and to serve today’s investor needs, broker-dealers require tokenised trading and custody infrastructure that’s ready now,” says Cromwell Coulson, President and CEO of OTC Markets Group. “OTC Link ATS was built as mission-critical, electronic trading infrastructure and our relationship with BitGo is intended to extend that framework into digital assets.”
The BitGo/OTC Markets alliance reflects a broad institutional shift toward interoperable, DLT-based financial infrastructure as tokenisation moves from concept to implementation. As the TradFi and digital assets markets converge, institutions are seeking market infrastructure capable of supporting regulated operations across a full spectrum of financial products.
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