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YZi Labs supports BitGo Nasdaq IPO, betting on regulated crypto infrastructure
Source: Cryptonews Original Title: Changpeng Zhao-backed YZi Labs backs BitGo IPO with strategic investment Original Link: YZi Labs has announced an investment in the crypto asset custody service provider BitGo, which is listed on the New York Stock Exchange.
Key Points
Ella Zhang, head of YZi Labs, stated in a January 23 announcement: "BitGo has maintained a zero-hacker attack security record over the past decade, demonstrating the robustness of its technical foundation."
Zhang added: "As the digital asset industry matures, regulated institutional-grade infrastructure like BitGo has become a key competitive advantage."
While specific investment details were not disclosed, YZi Labs said the investment was based on its belief that as institutional capital increasingly flows into digital assets, the US-regulated crypto infrastructure will become "inevitably critical."
Founded in 2013, BitGo provides custody, wallet infrastructure, staking, and settlement services to over 5,100 institutional clients across more than 100 countries. The company states that its platform currently safekeeps approximately $82 billion in assets.
BitGo's public debut attracted widespread market attention, becoming the first crypto IPO in 2026. After a roadshow at a price range of $15 to $17 per share, BitGo's stock listed at $18, raising approximately $212.8 million, with a company valuation exceeding $2 billion.
At market open, BitGo shares traded under the ticker BTGO surged to an intraday high of $24.50 (a 36% increase), but then retraced nearly all gains. As of the last check, BTGO was trading around $18.35 in after-hours trading.
Last year, the custodian received conditional approval for a banking charter in the US, allowing it to operate as a trust bank alongside other crypto companies like Circle and Ripple.
In addition to YZi Labs, other major supporters of BitGo include Goldman Sachs, Valour Equity Partners, Galaxy Digital (Mike Novogratz), Craft Ventures, DRW, and Redpoint Ventures.
YZi Labs Diversified Portfolio
YZi Labs (formerly a top-tier exchange Labs) is the family office of Changpeng Zhao and Yi He, co-founders of a leading exchange. According to public information, the company has invested in over 300 projects across more than 25 countries worldwide.
In October last year, YZi Labs made its first AI investment, leading a funding round for AI video education startup VideoTutor.