Cryptocurrency custodian company BitGo, Inc. was contemplating an initial public offering listing later this year, according to a media report on Tuesday.

What happened: The California-headquartered company was in talks with potential advisors for a listing that could come as early as the second half of 2025, Bloomberg reported, citing sources familiar with the matter.

Discussions about the IPO are ongoing, and no final decisions have been made. BitGo didn't immediately return Benzinga's request for comment.

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Why It Matters: BitGo provides regulated custody for digital assets, including Bitcoin (CRYPTO: BTC), and claims to manage over $100 billion in assets under custody. 

Known for its multi-signature wallets, BitGo also offers recovery solutions to clients who have lost access to their private keys or backup passcodes.

Cryptocurrency behemoth Galaxy Digital expressed interest in acquiring BitGo in 2021 but terminated the deal later, leading to legal flashpoints between the two entities.

The company's CEO, Mike Belshe, was one of the prominent financial backers of Donald Trump's presidential campaign last year.

The IPO speculation suggested increased optimism for a more accommodative cryptocurrency policy under the Trump administration.

Image: Shutterstock/ MaximP

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