BitGo offers OTC prediction market access to institutions via Susquehanna Crypto partnership

Crypto custodian BitGo Prime is partnering with Susquehanna Crypto, the digital asset unit of the quantitative trading firm, to provide institutional clients with Over-The-Counter (OTC) access to prediction markets. This service, available through BitGo's trading interface, leverages Susquehanna Crypto's execution capabilities and liquidity. A key feature is that institutions, such as hedge funds and family offices, can post stablecoins, Bitcoin, U.S. dollars, or other crypto as collateral, avoiding the need to liquidate existing digital asset positions to participate. The offering addresses the constraint institutional adoption has faced due to a lack of integrated infrastructure for custody, collateral management, and OTC execution. Prediction markets, which allow wagers on future events, have seen growing volume on platforms like Polymarket and Kalshi. Susquehanna Crypto, which became Kalshi's first official market maker in 2024, views this partnership as a natural extension of its work in price discovery through these markets.

(Source：The Block)