BitGo partners with Concrete to launch institutional DeFi platform

BitGo Bank & Trust and Concrete Network Services announced a partnership to create an institutional platform that allows clients to access onchain asset growth strategies while maintaining qualified custody of their digital assets.

The collaboration enables institutional clients to earn returns through decentralized finance protocols while their underlying digital assets remain in custody with BitGo Bank & Trust, a federally-chartered trust bank regulated by the Office of the Comptroller of the Currency.

The platform integrates Concrete's vault architecture with BitGo's custodial infrastructure. Clients can select vault strategies offered by Concrete and deploy synthetic representations of their digital assets, which remain held in BitGo Bank & Trust custodial accounts. Performance monitoring is provided through a dashboard.

"For too long, institutions have been forced to choose between security and optimized asset growth," said Nicholas Roberts-Huntley, CEO of Blueprint Finance, the core developer of the Concrete Protocol.

"Institutions are looking for ways to access digital asset opportunities without compromising the controls, oversight, and custody standards they require," said Mike Belshe, CEO and Co-founder of BitGo.

The solution targets institutions, treasury operators, and asset managers seeking to generate returns from idle capital while maintaining governance and compliance standards. The companies plan to expand the vault framework to support additional assets and strategies.

Concrete is an Ethereum-based protocol that provides institutional-grade tooling for on-chain asset management and is part of the Blueprint ecosystem. BitGo (NYSE: BTGO) is a digital asset infrastructure company that has operated since 2013, serving thousands of institutions globally.

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