BitGo’s focus on institutional investors began in 2013 with the launch of BitGo’s multi-signature wallets. Since then, BitGo launched BitGo Trust Company, a qualified custodian designed to sore digital assets in the industry.

There has been talks about the possibility of PayPal purchasing BitGo for a few months, but according to Fortune, that deal has now stopped in its tracks. “BitGo is an independent company and has not been acquired,” Belshe told Decrypt.