BitGo and OTC Markets plan tokenized securities access for more than 150 broker-dealers
NEW YORK, July 28. More than 150 broker-dealers could gain access to digital asset securities trading and settlement under a proposed arrangement between BitGo and OTC Markets Group. The plan, as the companies described it, would route transactions through OTC Link ATS using BitGo's custody infrastructure as the back-end layer.
NEW YORK, July 28. More than 150 broker-dealers could gain access to digital asset securities trading and settlement under a proposed arrangement between BitGo and OTC Markets Group. The plan, as the companies described it, would route transactions through OTC Link ATS using BitGo's custody infrastructure as the back-end layer.
Structure of the arrangement
OTC Link ATS would serve as the trading venue. BitGo would supply custody. Together, the companies said, the two components would allow broker-dealers in the OTC Markets network to trade and settle tokenized securities without building separate digital asset infrastructure. The release characterizes the deal as a plan.
Potential reach of the broker-dealer network
The companies cited more than 150 broker-dealers as the potential participant base. That figure reflects the existing OTC Link ATS community. Whether all participants would adopt the digital asset capability, and on what timeline, was not addressed in the release.