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The completion of the transaction is scheduled for the fourth quarter of 2021. BitGo will receive $ 265 million in cash and the rest of the sum in the form of 33.8 million shares in Galaxy Digital.

Galaxy Digital Holdings Ltd, one of the largest digital asset management companies, has announced plans to acquire BitGo, which has launched its own cryptocurrency wallet, is engaged in software development, and also provides digital asset trust services.

The acquisition will position Galaxy Digital as a leading global full-service platform for institutions seeking access to the crypto economy, offering an unparalleled breadth of industry-leading products and services at scale.

The deal will amount to $ 1.2 billion. BitGo will receive $ 265 million in cash and the rest of the amount in the form of 33.8 shares of Galaxy Digital. This will make BitGo shareholders own 10% of Galaxy Digital. The completion of the transaction is scheduled for the fourth quarter of 2021. After that, BitGo co-founder and CEO Mike Belshe will become Deputy CEO and board member of Galaxy Digital.

https://www.newswire.ca/news-releases/

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