Brink’s Expands into Digital Assets with Bitgo Investment
Brink’s, the renowned cash handling company, has made a strategic investment in crypto custody firm Bitgo. This partnership signifies a significant shift for Brink’s, known for its physical cash management. The financial details of the investment have not been disclosed, but Brink’s will serve as Bitgo’s global logistics and vaulting provider. Both companies aim to expand and adapt in the rapidly growing digital asset industry.
Bitgo expressed their appreciation for Brink’s commitment to top-notch security, stating that Brink’s is a valuable partner in their continued innovation in the financial sector. This collaboration follows Bitgo’s successful Series C funding round, during which they raised $100 million and reached a valuation of $1.75 billion.
According to Baylor Myers, Vice President of Corporate Development at Bitgo, the partnership with Brink’s aligns with their vision of advancing financial innovation in the USA and globally. Brink’s ventured into digital assets previously through a partnership with Swiss crypto custody firm Metaco. Their investment in Bitgo further solidifies their commitment to the digital asset sector.
Zac McKenna, Brink’s Manager of Digital Assets, stated that partnering with Bitgo was a logical next step for Brinks, given their position as a global leader in physical security and logistics, and Bitgo’s expertise in digital asset security and custody.
Hot Take: Brink’s Takes a Bold Step Towards the Future of Finance
By investing in Bitgo, Brink’s, the iconic armored cash truck company, is making a strategic move into the digital asset industry. This partnership serves as a testament to the growing prominence of cryptocurrencies and the need for secure custody solutions. With the expertise of both Brink’s and Bitgo in their respective fields, the collaboration holds great potential for the evolution of digital assets. As the financial landscape continues to shift towards digitalization, Brink’s is positioning itself at the forefront of this transformation, ready to meet the demands of a digital world.
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