BitGo and Crossover Markets Surpass $2 Billion in Cleared Volume

BitGo (BTGO) and Crossover Markets reported that institutional clients have executed more than $2 billion in cumulative notional volume on Crossover Markets’ CROSSx, cleared and settled through BitGo’s Go Network.

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Institutional clients have executed more than $2 billion in notional volume on CROSSx cleared and settled through BitGo’s Go Network

NEW YORK--(BUSINESS WIRE)-- BitGo Holdings, Inc. (NYSE: BTGO) (“BitGo”) and Crossover Markets today announced that institutional clients have surpassed $2 billion in cumulative notional volume executed on Crossover Markets’ CROSSx and cleared and settled through BitGo’s Go Network.

Through the relationship, clients can access CROSSx, Crossover Markets’ execution-only electronic communication network, and net settle with BitGo via Go Network. Go Network is BitGo’s proprietary settlement infrastructure, connecting institutional clients with trading venues and supporting off-exchange settlement within regulated custody.

“Surpassing $2 billion in cleared volume with Crossover Markets is an important milestone that reflects continued institutional demand for more efficient, risk-managed market infrastructure,” said Adam Sporn, Head of Prime Brokerage and U.S. Institutional Sales at BitGo. “Institutions want efficient access to liquidity without taking on unnecessary counterparty and operational risk. The growth we’ve seen on CROSSx through Go Network shows that this approach is resonating with the market.”

BitGo and Crossover Markets launched their relationship in 2025 to provide institutional clients with electronic execution on CROSSx, with BitGo serving as the central counterparty for clearing and settlement through Go Network under a single credit relationship. The structure separates execution, custody, clearing, and settlement into distinct functions.

“As the digital asset market matures, serious institutions expect the same market structure and rules that they rely on in traditional markets,” said Anthony Mazzarese, Co-Founder and Chief Commercial Officer at Crossover Markets. “Combining CROSSx with BitGo's regulated settlement infrastructure is designed to deliver that structure, with clear separation between execution, credit, and settlement. We believe clients can access spot liquidity without taking counterparty exposure to the venue and without the conflicts of interest or information leakage that may arise with vertically integrated all-in-one providers.”

The milestone represents continued growth for Go Network as more institutions seek to access liquidity without moving assets onto trading venues. BitGo and Crossover Markets are providing institutions with a trading model increasingly aligned with the infrastructure and workflows they expect from traditional financial markets.

About BitGo

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, the first federally chartered digital asset trust bank owned by a publicly traded company. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com.

About Crossover Markets

Crossover Markets is a digital asset trading technology firm focused on meeting the unique liquidity requirements of institutions in the cryptocurrency markets. CROSSx, the company’s execution-only cryptocurrency Electronic Communication Network (ECN), is powered by the industry’s fastest and most advanced matching engine and includes order logic that enables clients to choose with whom they want to trade. Led by a team with decades of FX trading, prime brokerage technology and artificial intelligence experience, Crossover is ushering in the next big wave of institutions in the crypto market. For more information, visit www.crossovermarkets.com.

Forward-Looking Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the highly volatile nature of digital assets, technical issues in connection with the integration of supported digital assets and changes and upgrades to their underlying network, heightened scrutiny of our industry and operations, the theft, loss, or destruction of private keys required to access any digital assets held in custody for our own account or for our clients, errors in executing client transactions or managing our own trading activities, and the other factors discussed in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 27, 2026, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260914923786/en/

Media Contact
press@bitgo.com

Source: BitGo Holdings, Inc.

Key Terms

notional volume financial

Notional volume is the total dollar value represented by a set of financial contracts — calculated by multiplying the number of contracts by the price of the underlying asset — rather than the count of contracts alone. Think of it like reporting the total cost of items in a shopping cart instead of just how many items are in the cart. Investors use it to gauge the true size, market activity and potential risk or exposure tied to trades or positions.

electronic communication network technical

An electronic communication network (ECN) is an automated, computerized system that matches buy and sell orders for stocks, bonds or other securities directly between participants without routing orders through a traditional exchange floor. It acts like an online marketplace connecting brokers, institutions and traders so orders are paired quickly and often anonymously; this matters to investors because ECNs influence how fast trades execute, how transparent prices are and how much liquidity and competition exists for a given security.

central counterparty financial

A central counterparty is a specialized financial firm that stands between two parties in a trade, becoming the buyer to every seller and the seller to every buyer to ensure transactions settle as agreed. It matters to investors because it reduces the risk that a failed participant will derail trades—acting like an impartial referee and insurance backstop—helping keep markets liquid, orderly and less prone to sudden price swings.

off-exchange settlement financial

An off-exchange settlement is the process of completing a trade that was agreed outside a formal stock exchange—such as between brokerage desks or in private deals—where the transfer of shares and payment are handled outside the exchange’s standard systems. Investors should care because these trades can be less visible and may have different timing, costs and the risk that the other party won’t deliver; it’s like buying an item from a private seller versus from a store with set rules and protections.