BitGo Announces Promotion of Chen Fang to Chief Operating Officer and Appointment of Victor Tsou to Vice President of Engineering

Appointments reflect firm’s continued focus on building and delivering institutional-grade products

PALO ALTO, Calif.--(BUSINESS WIRE)--BitGo, the leader in digital asset financial services, today announced the promotion of Chen Fang to Chief Operating Officer and the appointment of Victor Tsou to Vice President of Engineering. Mr. Fang and Mr. Tsou will be responsible for driving BitGo’s operational strategy and execution as the company continues to deliver institutional-grade custodial, trading and finance solutions to investors, fintech firms, and crypto native platforms that own digital assets. Mr. Fang and Mr. Tsou will both report to Mike Belshe, CEO of BitGo.

Mr. Fang most recently served as BitGo’s Chief Product Officer, overseeing all facets of the company's product development and strategic vision. Prior to joining BitGo, Mr. Fang co-founded Lumina, an institutional-grade portfolio management suite for digital assets that was acquired by BitGo in early 2020. He has also managed product development teams at Zenefits, a full-service payroll provider, and at Microsoft, and has over a decade of diversified experience in the fintech sector.

Mr. Tsou has a proven track record of more than 20 years of success in engineering, with nearly 10 years in fintech. He most recently was Senior Director of Engineering at Affirm, where he led efforts in loan servicing, payments processing, international expansion, and consumer products. He previously also led engineering teams at Block in data, enterprise merchants, and gift cards.

“We have worked diligently to build and launch institutional-grade web3, DeFi and custodial solutions. That’s what the industry needs more than ever - whether you’re a fiduciary or retail investor,” said Mike Belshe, CEO BitGo. “This market environment offers an opportunity to build and it is important to promote and bring top talent to lead our teams, product roadmap and take BitGo to the next level. Chen and Victor are invaluable for our future progress and our clients as we expand our suite of institutional-grade solutions for the industry.”

The appointments follow several recent product launches and milestones that have contributed to BitGo’s momentum, including:

• Launching a comprehensive suite of insurance protections for cryptocurrencies and digital assets, including expanding the amount of cold storage insurance that clients can purchase from $100 million to $250 million, and providing clients with theft insurance and Lost Key Cover, a key recovery service.
• Adding support for a growing list of digital currencies including Solana, Polkadot, Near and more.
• Launching the first institutional-grade NFT custody solution in the U.S. for clients to securely receive, hold, and send NFTs.
• Launching Activate, BitGo’s first multi-chain, multi-city developer conference dedicated to empowering web2 developers, advancing web3 developers and blockchain technology.
• Adding several senior hires, including Ira Wurcel as General Counsel and Adam Sporn as Head of US Institutional Sales, among others.
• Expanding custody offering internationally to Spain, Poland, Italy and Germany.

For more information, please visit www.bitgo.com.

About BitGo

BitGo is the first digital asset company that has been focused exclusively on serving institutional clients since 2013. BitGo provides institutional investors with custody, liquidity, and security solutions. Active in both centralized and decentralized finance, BitGo offers market leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, the leading global stablecoin for Bitcoin.

In 2020, BitGo launched BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes approximately 20% of all global Bitcoin transactions, and supports over 500 coins and tokens. BitGo’s customer base includes the world’s largest cryptocurrency exchanges and institutional investors and spans more than 50 countries.