BitGo Expands Institutional Access with OTC Prediction Markets Partnership

BitGo, a leading provider of cryptocurrency custody solutions, has announced a strategic partnership with Susquehanna Crypto to offer its institutional clients over-the-counter (OTC) access to prediction markets. This move is expected to simplify the process of trading event-based contracts using crypto assets or stablecoins held in custody.

The new platform will enable hedge funds and family offices to execute bilateral trades without moving assets from custody, eliminating the need for conversions or transfers. Derivatives-style contracts will be used to execute the trade, with a minimum threshold of $100,000 per transaction.

The partnership aims to address the operational challenges faced by institutional investors in participating in prediction markets, which include a lack of custody solutions, collateral management services, and trading execution infrastructure. The platform is designed to support the execution requirements needed by large institutional participants.