BitGo Acquires Lumina
We are very excited to announce our latest update to the BitGo platform with the acquisition of Lumina, the world’s most comprehensive, institutional-grade financial platform for managing digital assets.
Over 7 years ago, BitGo’s journey began pioneering the world’s first multi-signature, secure wallet platform. From there, we launched BitGo Trust Company, the world’s first, regulated custodian purpose built for digital assets. Our strong foundation in security and compliance has made BitGo the go-to leader for secure, digital wallets with institutions around the globe.
With the acquisition of Lumina, we introduce the next generation wallet platform: welcome BitGo Portfolio & BitGo Tax.
With BitGo Portfolio, clients can now bring data from any exchange or wallet into a single dashboard for a consolidated view of their entire digital asset holdings and activity, regardless of where those assets are stored or transacted. After connecting their digital asset wallets and exchange accounts, clients can create a comprehensive view of their portfolio, automate bookkeeping, and create a structured, audit-ready record of their investment and activities. BitGo Portfolio supports more than 40 integration partners and 30 different types of transactions from digital asset purchases and sales to mining activity, forks, and loans.
We’re also excited to introduce BitGo Tax, an institutional-grade tax solution that is fully integrated with BitGo Portfolio. BitGo Tax provides the tax basis for resolved transactions and respective tax lots while BitGo Portfolio tracks and logs these activities to create an audit-ready system of record. BitGo Tax supports multiple tax lot identification methods, and provides realized gain and loss reports across all taxable events to support a variety of tax strategies.
Together, these front-to-back office tools are designed specifically for digital assets so that institutional investors can see all holdings, track performance, and build reports to streamline operations and inform decision making.
We at BitGo have been working with the world-class team at Lumina for some time as partners and clients. We are incredibly fortunate to have them bring their incredible skills, knowledge, and expertise BitGo which will help across all areas of BitGo. The founders of Lumina are taking leadership positions within BitGo, and Chen Fang, CEO of Lumina will be taking the role of Chief Product Officer for all BitGo products.
We’re excited to share more about the product updates in a webinar next week. Please join Chen Fang, BitGo’s new Chief Product Officer, for a deep dive on BitGo Portfolio and BitGo Tax on April 23, 2020 at 11 AM EDT / 8 AM PDT. Register at https://pages.bitgo.info/PortfolioWebinar.html.
