Capital markets News

Brinks security invests in Goldman-backed BitGo digital asset custody

brinks security

Today, Brinks, the security firm known for moving cash, announced it is partnering with digital asset custody firm BitGo and investing. In 2022 another digital asset custody provider, Metaco, partnered with Brinks to protect key backups. Metaco is now owned by Ripple.

No further details about the BitGo investment were shared.

“We are excited to not only partner with, but invest in BitGo as we become their global secure logistics and vaulting provider,” said Zac McKenna, Brink’s Manager of Digital Assets. 

“BitGo’s strong brand reputation, market position and long track record of success in the digital asset industry increases our presence in the fast-growing and evolving blockchain landscape.”

Last year Brinks also invested in NFT company Courtyard. The startup allows physical collectibles to be traded as NFTs for greater liquidity. It then stores the real world assets in vaults, which is why Brinks is so relevant.

Meanwhile, BitGo raised a $100 million Series C funding round in August last year, valuing the company at $1.75 billion. However, it didn’t disclose details about the investors. Goldman Sachs, DRW and Galaxy Digital participated in a 2017/18 Series B round. In 2021, Galaxy agreed to acquire BitGo for $1.2 billion, but Galaxy  terminated the deal a year later. 

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