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Cryptocurrency custodian provider BitGo has announced it acquired a digital securities platform Harbor with its broker-dealer and transfer agent subsidiaries.

The amount of the deal remains undisclosed.

According to an official press release, the acquisition will extend BitGo’s capabilities to address a wider class of cryptocurrencies for institutional investors and provides a foundation for a full-stack crypto-solution.

BitGo CEO Mike Belshe says the company's vision has always been "bigger than wallets and custody" and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services.

"We believe participants will ultimately need trusted, full-stack solutions for digital currencies and now BitGo is well positioned to address institutional requirements as the market develops," Belshe added.

The Harbor platform was created back in 2017. It received several investments from the industry's leading VC firms including Andreessen Horowitz, Craft Ventures, Fifth Wall, Valor Equity Partners and VY Capital.

Earlier iHodl reported that BitGo opened two new custodial entities in Switzerland and Germany. BitGo’s Swiss entity BitGo GmbH is now a member of the Financial Services Standards Association (VQF), supervised by the Swiss Financial Market Supervisory Authority (FINMA).

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