HashKey Cloud and BitGo have expanded their existing staking partnership into institutional trading, custody and real-world asset tokenization, with Ethereum and Solana named as the first ass
HashKey Cloud and BitGo have expanded their existing staking partnership into institutional trading, custody and real-world asset tokenization, with Ethereum and Solana named as the first assets covered by the staking arrangement.
SummaryBitGo said on Oct. 6 that the companies signed the expanded agreement in Singapore during TOKEN2049 week. WanCloud Ltd., which operates as HashKey Cloud within HashKey Group, signed the deal with NYSE-listed BitGo Holdings.
The agreement covers four business areas: staking, institutional trading flow, custody and RWA tokenization. Services will be limited to eligible institutional customers and jurisdictions where the relevant products are permitted.
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The two companies were already working together before the Singapore agreement. Their first partnership, announced in July, centered on institutional staking.
Ascrypto.news reported on HashKey Cloud and BitGo’s original staking partnership, the setup was designed to let institutional clients participate in proof-of-stake networks while keeping their assets within BitGo’s custody framework. HashKey Cloud supplied validator infrastructure.
The new agreement makes HashKey Cloud a validator partner on BitGo’s platform, with ETH and SOL as the first supported staking assets for eligible institutional clients.
Neither company has given an exact date for expanded staking access or identified the first clients expected to use the service. The Oct. 6 announcement did not disclose fees, staking reward terms or how much ETH and SOL could enter the arrangement.
HashKey Cloud has operated blockchain validation infrastructure since 2018. Its website says its current services include staking products for institutions, asset managers and professional investors across multiple blockchain networks.
Trading is one of the new areas covered by the October agreement. BitGo and HashKey Cloud said they will work together to support institutional trading flow, though the official announcement did not identify exchanges, trading pairs or expected volumes.
BitGo already runs trading and settlement infrastructure alongside its custody business. Its Singapore entity holds a Major Payment Institution license covering digital payment token services and cross-border money transfers, according to the Monetary Authority of Singapore’s financial institutions register.
Separately, BitGo recently expanded its off-exchange settlement arrangement with OKX for eligible institutions outside the U.S. Under that service, supported assets can remain in segregated custody at BitGo Singapore while clients access exchange liquidity. The HashKey agreement does not state that the same setup will automatically apply to its trading relationship.
Custody terms are more specific. BitGo will make its custody services available to HashKey Capital and associated funds, subject to client onboarding and separate agreements.
The arrangement gives HashKey’s investment businesses another institutional custody option while BitGo keeps the custody relationship separate from HashKey Cloud’s validator work.
BitGo reported 5,833 clients at the end of June, with $65.2 billion in assets on its platform and $11.9 billion in assets staked. Its second-quarter staking revenue reached $64.7 million.
Real-world assets form the fourth part of the expanded agreement. BitGo will serve as a custody partner for HashKey’s tokenization initiatives, according to the Oct. 6 release.
HashKey already has an operating RWA business. The company reported HK$2.68 billion in onchain RWA total value locked during the first half of 2026, up 167.8% from a year earlier.
Institutional customers accounted for HK$231.5 billion of HashKey’s HK$282.2 billion platform trading volume during the same six-month period, representing 82% of total volume.
Its tokenization work has included regulated products in Hong Kong. HashKey Exchange recently began distributing Franklin Templeton’s tokenized U.S. government money market fund to eligible professional investors, Franklin Templeton bringing its tokenized fund to HashKey.
HashKey signed another arrangement in September with Prometheum Capital and Velocity Capital covering a proposed route for tokenized U.S. equities to eligible international investors. The project remains subject to final agreements, regulatory clearance and technical work, according to related crypto.news coverage of the planned tokenized U.S. stock structure.
Abel Seow, BitGo’s managing director and head of APAC sales, said institutions in Asia are seeking infrastructure covering several stages of digital asset activity. Leo Li, CEO of HashKey OnChain BG, described the combination of HashKey’s Hong Kong presence and BitGo’s custody infrastructure as a “trusted pathway across staking, trading, custody, and tokenization.”
The HashKey agreement arrives as BitGo puts more resources into trading, financing and settlement alongside custody.
On Aug. 27, the company completed its acquisition of NYDIG’s institutional trading business. The transaction brought derivatives, financing, execution and structured-product capabilities into BitGo, along with roughly 30 NYDIG employees and institutional client relationships, according to crypto.news coverage of the completed NYDIG acquisition.
BitGo CEO Mike Belshe has since said he wants prime brokerage to become the company’s main revenue engine. As detailed in related coverage of BitGo’s move toward trading and lending, its strategy centers on offering trading, financing and settlement while clients keep supported assets under custody.
The company generated $4.33 billion in second-quarter revenue, largely from digital asset sales, though direct costs reached $4.29 billion. BitGo reported a $19 million net loss for the quarter. Custody and wallet relationships remain the foundation for selling clients several products, management said in its quarterly results.
HashKey has been building its institutional network in parallel. Its first-half platform trading volume rose 31.8% year over year, while institutional trading volume increased 58.8%, according to company results. HashKey listed on the Hong Kong Stock Exchange in December 2025 under stock code 3887.
The Oct. 6 agreement does not name initial institutional customers, provide a rollout schedule or disclose expected trading, staking or custody volumes. BitGo’s custody services for HashKey Capital and its associated funds remain subject to customary onboarding and applicable agreements, while access to each service depends on local law and regulatory requirements.
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