invezz.com
Brink’s, a US-based cash handling company known for its armored transit trucks, is looking to expand its footprint in the digital assets space with a new strategic investment in crypto custody provider BitGo.
With this partnership, Brink’s becomes BitGo’s logistics and vaulting provider, according to details of the collaboration shared on Wednesday.
“BitGo is delighted to partner with @Brinks as we advance financial innovation globally. Brinks’ commitment to best-in-class security makes them a valuable partner,” BitGo said via a post on X.
Brink’s and BitGo have not disclosed the deal’s financial terms. The board of directors for both companies hasn’t changed.
BitGo’s global expansion
BitGo’s partnership with Brink’s comes nearly three months after the custody provider joined forces with Copper, an institutional digital asset infrastructure firm.
BitGo said in a press release on November 3, 2023 that the collaboration would allow the firms to expand Go Network and ClearLoop, the companies’ respective off-exchange settlement networks. The networks facilitate a global growth in institutional market participation, the companies said at the time.
In August, BitGo announced it had raised $100 million in its Series C financing round, with a valuation of $1.75 billion. The crypto platform planned to deploy these funds towards strategic acquisitions and expansion.
BitGo, which is eyeing a global presence, partnered with South Korea’s Hana Bank in September last year.
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