A leading digital asset financial services provider, BitGo has announced the acquisition of Lumina, a crypto-native financial platform. According to the report, BitGo has already completed the first phase of product integration. This deal is part of the company’s plans to expand its services to give institutional investors a dashboard for managing, accounting, and tracking their entire asset holdings and activity.

The value of this acquisition deal remains undisclosed. However, as part of the deal, Lumina will fully be integrated into BitGo’s current product offerings. In addition, the current team behind Lumina would be absorbed, with the former CEO, Chen Fang becoming the acting chief products officer at BitGo.

Lumina as a company was providing 2 different tools, namely Lumina Portfolio and Lumina Tax, for institutional investors. According to the announcement, these office tools will now be offered as BitGo Portfolio and BitGo Tax respectively. The tools allow investors to view all their holdings, track performance, and build reports to streamline operations and inform decision making.

Through this acquisition deal, BitGo’s clients can now bring data from any exchange or wallet into the BitGo Portfolio dashboard for a consolidated view of their crypto holdings and activity. BitGo Tax will provide investors with data analytics, tax and reporting capabilities. BitGo stated in the announcement that it will host a webinar to showcase the new services on April 23.

Commenting on the acquisition, Fang said that this deal was a natural fit because Lumina and BitGo share common mission; which is to accelerate the institutional adoption of digital assets. He said they hope to achieve this by building proper infrastructure and tools to bridge the gap between traditional finance and digital assets.

BitGo which was formerly known to provide only crypto custody services for institutional investors has gradually been expanding its services and now offers almost all crypto assets services.

This was made possible through some previous deals such as the acquisition of a digital securities licensed provider, Harbor in February. The company also launched its first crypto lending platform in March. It recently increased its insurance policy for custody clients, above $100 million of coverage under certain circumstances.

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