March 5, 2020 Bitcoin custody provider, BitGo has started offering lending services to institutions.

The cryptoasset lending sector has gained a new market entrant with the announcement from BitGo that it now offers a lending service to institutional clients. The operation has been live for several months and now holds approximately $150 million in loans. For now, the company is marketing the service to its existing customer base and offers loans in Bitcoin, Ether, Litecoin and unspecified stablecoins with the intention to offer cryptoasset-collateralized fiat currency loans in the future. BitGo becomes the latest entrant to a market that has seen substantial growth in recent years, as the asset class’ financial services infrastructure continues to mature.