BitGo Named to the 2020 CB Insights Blockchain 50 — A List of the Most Innovative Blockchain Companies

CB Insights today named BitGo, the leader in digital asset financial services, to its inaugural Blockchain 50 ranking, a list of the top private companies applying or analyzing blockchain technology to solve business or consumer problems across various industries.

Developed in partnership with Blockdata, a blockchain intelligence and data company that was acquired by CB Insights, the 2020 Blockchain 50 cohort includes companies from all around the globe across varying investment stages of development, from early-stage startups to well-funded unicorns. Combined, these companies have raised over $3B across 113 deals since 2017.

“Blockchain moved from possible to practical in 2020 as evidenced by the enterprise adoption we tracked. At the same time, the blockchain company ecosystem also became more crowded, creating noise and uncertainty for enterprises as they evaluate vendors and partners. The Blockchain 50, which we’ve created in conjunction with Blockdata, was born out of a desire to reduce that uncertainty and recognize the pioneering companies using the blockchain,” said CB Insights CEO Anand Sanwal. “This inaugural class of the Blockchain 50 is tackling a range of use cases across trade finance, capital markets, exchanges and more and are being used by banks, governments and major retailers. We’re excited to see the impact the Blockchain 50 will have on industries as their solutions are deployed and to see the continued evolution of blockchain technology as it matures.”

“Recognition from CB Insights for its inaugural Blockchain 50 list reinforces BitGo’s leadership as a digital assets financial services provider and its long established mission to build the most secure and compliant financial infrastructure for digital assets on the market today,” said Mike Belshe, CEO, BitGo. “As one of the most established players in the industry, BitGo has been innovating and transforming the way institutional investors custody, trade and lend digital assets, as well as navigate through the complex landscape. Our team’s passion and commitment to innovation has enabled BitGo to evolve from a digital assets custodian to a fully integrated digital asset financial services provider and we are confident that this is just the beginning for the company and the future of digital money.”

Through an evidence-based approach, the CB Insights research team, in collaboration with Blockdata, selected the Blockchain 50 from thousands of applications and nominees, based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty.

The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.

BitGo Quick Facts:

• BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions.
• Largest processor of on-chain bitcoin transactions with over 20% of all global bitcoin transactions.
• Launched BitGo Prime in 2020, first full-stack digital asset solution integrating Prime Trading and Lending with BitGo Portfolio and Tax.
• In 2018, it launched BitGo Trust Company, the first regulated, qualified custodian purpose-built for storing digital assets.
• Supports more than 300 coins and tokens.
• Chosen and trusted by hundreds of exchanges and institutions across more than 50 countries.

Quick facts on the 2020 Blockchain 50:

• The 2020 Blockchain 50 companies have raised over $3B in aggregate equity funding across 110+ deals since 2017.
• The list includes five unicorns (companies valued at or above $1B) — Bitmain, Bitfury, Coinbase, Chainalysis, and Digital Currency Group.
• While the majority of the companies are based in North America, 40% of the 2020 Blockchain 50 winners are based outside the United States, in countries such as the United Kingdom and Switzerland.
• Blockchain Capital, Castle Island Ventures, Kinetic Capital, Pantera Capital, and Valar Ventures are the most active venture investors in the Blockchain 50, with 5 investments each since 2017.
• Since 2017, corporate venture capital firms Digital Currency Group, Galaxy Digital, and ConsenSys Ventures have struck 13, 12, and 7 deals with the cohort, respectively.

The Blockchain 50 Companies (in alphabetical order):

About CB Insights

At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.

About BitGo

BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions. In 2020, BitGo launched Prime Trading and Lending, as well as BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes over 20% of all global Bitcoin transactions, and supports over 300 coins and tokens. BitGo’s customer base includes the world’s largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners. For more information, please visit https://bitgo.com.

Disclaimer

The information in this press release is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Custody services are offered through BitGo Trust Company, a South Dakota chartered trust company. BitGo is not registered with the SEC as an investment advisor or custodian, and does not offer legal, tax, investment, or other advice. Please consult your legal/tax/investment professional for questions about your specific circumstances.

BitGo Trust Company, BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA.

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