BitGo Joins Fortune 500 With $16.2B Revenue, Marks Bitcoin’s Managed Infrastructure Milestone

BitGo Holdings, Inc. (NYSE: BTGO) was named to the 2026 Fortune 500, becoming the first true digital asset infrastructure company to reach the list. The debut comes five months after the company went public on the New York Stock Exchange in January 2026, with reported revenue of about $16.2 billion by 2025.

The 2026 Fortune 500 edition, which includes President Donald Trump on the cover and is on sale now, includes BitGo at No. 273. BitGo also appears in a related compilation, while CEO Mike Belshe is scheduled for a prominent placement in the upcoming Fortune Crypto 100 list in August, including feature inclusion and limited diversification.

While miners, major exchanges, and treasury-focused companies have emerged from the public in recent years, BitGo stands out as the first dedicated infrastructure provider – focused on storage, wallets, payments, and related services – to achieve Fortune 500 status immediately after its public listing.

Background and Evolution

BitGo was founded in 2011 by Mike Belshe, its current CEO, along with Bill Lee, Ben Davenport and Will O’Brien. It began as a provider of secure Bitcoin wallets and institutional-level storage solutions, emphasizing multi-signature technology and business security at a time when few reputable options exist for large assets.

In more than a decade, the company has grown to become one of the best-known names in digital asset infrastructure, powering wallets, storage, trading, and operations for many prominent platforms, funds, and institutions in the Bitcoin and broader crypto industry.

Current Operation and Control Position

Today, BitGo operates as a full-stack infrastructure provider. It operates as BitGo Bank & Trust, a National Corporation, a national bank legally chartered under the Office of the Comptroller of the Currency (OCC). This designation, approved in December 2025, imposes strict government requirements – including improved capital standards, regular audits, comprehensive risk management, and fiduciary oversight – while delivering significant strategic benefits.

The OCC charter provides uniform federal oversight and regulatory clarity, replacing state-by-state licensure in most cases and providing institutions with the assurance they expect from a federally regulated fiduciary. Enables service capacity nationwide with federal preemption of certain duplicative state requirements.

Nick Payton, VP of Marketing at BitGo, told Bitcoin Magazine that the OCC federal charter, combined with being a public company, opens up the regulatory clarity that institutional clients want. “We spent the money and made sure we took that burden off our customers.” Payton also described the OCC federal charter as a moat that software alone cannot easily open, even with the power of artificial intelligence.

Finally, the OCC federal charter also strengthened the company’s ability to expand services such as stablecoin infrastructure, staking from cold storage, primary trading and exit, and token operations under a clear organizational framework, positioning BitGo as the main bridge between the traditional banking channel and digital assets.

Its client base is primarily institutional, including exchanges, funds, and Bitcoin ETF issuers. Notable examples include 21Shares (storage of Bitcoin ETF), Fold (which relies on BitGo infrastructure for core operations), World Liberty Financial (storage and infrastructure of its USD1 stablecoin), and SoFi (infrastructure support and distribution of SoFiUSD, positioned as the first US stablecoin issued by a national bank on a public blockchain).

High net worth individuals also use the platform for professional retention, cold storage, and core services. While other trading-oriented tools exist with a wider platform, BitGo has deliberately focused on institutional and high-end customers rather than being a mass-market trading platform.

Core Services and Global Footprint

BitGo has expanded its Prime desk to include OTC trading, electronic trading, and derivatives, which recently arrived online. This allows clients to access liquidity, strategize, and manage collateral directly in eligible stocks. The service supports operational needs such as Bitcoin lending or product manufacturing without removing assets from the platform.

The company operates worldwide in more than 100 countries. It maintains regulated licenses and organizations in key regions, including a VARA license in Dubai, an office in London, a Latin American headquarters in Mexico City, and an APAC base in Singapore, according to Payton.

Revenue Drivers

Payton also explained the main contributors to the company’s income today, which is mainly made up of babysitting funds, the company’s bread and butter, and other growing sources of income such as BitGo Prime, which includes OTC, e-trading, and new offerings.

The crypto asset count also shortlisted the company’s top revenue drivers, enabling clients to earn yields on assets like Ethereum and Solana while being held in cold storage. Finally, Stablecoins have become the fastest growing part of the company’s revenue through their Stablecoin-as-a-Service platform, which handles mining, heating, and storage. Recent examples include the backing of World Liberty Financial’s USD1, which Payton described as one of the fastest-growing coins, approaching critical mass, and SoFiUSD’s SoFiUSD, which has a $150 million initial mint and plans to scale.

Payton also shared that “Bitcoin has been driving significant volume at BitGo. But Ethereum, Solana, and stablecoins are also prominent.” He added: “One important point we have never discussed publicly is that we are among the 10 largest Bitcoin custodians in the world, with over 470k BTC in stock,” making Bitgo one of the largest Bitcoin custodians in the world. Through its corporate treasury, BitGo Holdings, it holds approximately 2,449 BTC as of the latest public disclosure, this puts BitGo as having the 32 largest corporate treasury locations in the world.

Outlook on Tokenization

As for the current areas of focus, Payton expressed a clear enthusiasm for “tokenization,” a term that’s often heard even though it doesn’t make sense in the industry. He envisioned it as a cryptographic representation of traditional assets – mainly public and private equity – in a blockchain infrastructure.

“We are excited about the future of tokenization. We think it will bring wider access to various people in public markets. We are also looking at tokenizing private companies, traditional equity, not just public.” Payton said, warning that “It has to be done carefully. And safely. We don’t want it to turn into a bubble. It has to be done responsibly.”