Galaxy Digital is a cryptocurrency financial services company specializing in investments and the “institutionalization” of blockchain. The company has ventured into offering its own products and platforms, with a securities trading desk and partnerships with gaming and crypto loan companies. In May 2021, Galaxy acquired BitGo, a cryptocurrency custodian company. Custodians store large amounts of cryptocurrency tokens, which is required by the SEC for institutions or investors with crypto assets worth more than $150,000. BitGo is not Galaxy’s first acquisition, but it is the first to have a patent portfolio. BitGo has two pending patent applications for security in storing cryptocurrency. Galaxy acquired BitGo for $265M in cash and the remainder in stock. This purchase may well pay off, as Galaxy’s founder acknowledged that the company’s success depended on institutional adoption of cryptocurrency after reporting a loss of $272M in 2018. At the very least, Galaxy now also has potential patent assets that offer exclusivity and can be licensed for more revenue. You can follow how Galaxy and other companies build their patent portfolios on the Cryptocurrency Patent Forecast®.